Legal FAQs for REALTORS®
— Contracts and Forms
I received an offer on one of my listings, but it was drafted on an outdated form. Should I present the offer to the seller or require the buyer's broker to resubmit the offer on a current form first? (Updated Oct. 2, 2015)
First, present the offer to your seller and tell him that it’s on an outdated form that may not reflect recent changes to the law. Next, inform the other broker that the form was outdated and that the other broker is obligated under TREC rules to use a current form. If your seller intends to counter the offer, draft the counteroffer on a current form. If your seller wants to accept the offer on the older form and not move the sale to a current form, urge him to seek the advice of counsel before doing so.
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