Texas State Express Offers Procedures

Texas State Express Offers Procedures

Watch this explanation video with your Texas state broker, Julie Floyd!
Situation 1: Do you have this property already under a Listing Agreement?
  1. YES: STOP. Reach out to your Managing Broker. All Express Offers MUST represent the iBuyer, Intermediary may not be used. Listing Agreement will need to be terminated.
  2. NO: Proceed to Situation 2.
Situation 2: You have a property that is not currently on the MLS and would be a candidate for Express Offers:
  1. Check to ensure the property completely fits a Buy Box.
  2. Make an appointment with the owner(s) to discuss the Express Offers process.
  3. Provide Owner(s) with CMA and Disclosure to Seller brochure (can be downloaded in the Express Offers platform under Downloads).
  4. If owner(s) wish to move forward, forms MUST be completed in this order:
    1. IABS
    2. Express Offers Disclosure to Seller acknowledgement
    3. Registration Agreement Between Broker/Owner (EXAMPLE below)
    4. Any required disclosures/notices/addenda
  5. Complete the required Express Offers Property Condition Report.
  6. Enter the Express Offers Listing in SkySlope.
  7. Submit the property into the Express Offers platform. 
Outcome 1: OFFER ACCEPTED!

Connect with the Buyer and complete All Buyer Required documents, contract, disclosures, addenda, etc. as you would for any transaction in Texas. Send them to the Seller for signature and place an Executed Date on the contract when all signatures have been obtained. Continue as you would for a regular Transaction.

Outcome 2: NO OFFER/OFFER NOT ACCEPTED

After all EO Listing Documentation has been loaded into SkySlope, cancel the Listing.
**No Listing Termination is required because the Registration Agreement Between Broker/Owner had a short term period.

Option: Go back to the Seller and ask if they would like to sign a Listing Agreement (this could also be done at the initial meeting- Listing Date MUST start after the termination date on the Registration Agreement Between Broker/Owner) and go on the resale market. If so, follow all the regular procedures for a traditional MLS Listing.






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