Knowledebase Tag: Texas Real Estate Commission
- Is it appropriate to fill in one of the sections of the Third Party Financing Addendum with “market” in the space for the maximum interest rate permitted for the loan contingency or to leave the percentage amount blank for the maximum loan fees permitted for the loan contingency?
- Since TREC doesn’t offer a residential lease or commercial contracts, can my brokerage’s in-house attorney draft those forms?
- Several weeks after listing a seller’s home, he and I agreed to terminate our relationship. We both signed a Termination of Listing form (TAR 1410) with the seller agreeing to pay me $400 for the services I rendered to the date of termination. The seller keeps saying he will send me a check for the $400, but he still hasn’t. I recently learned that he is selling his home through another listing broker and the closing will take place next week. Should I send a letter to the title company demanding that they withhold my $400 from the seller’s proceeds?
- An unlicensed person referred business to me. Can I pay him a fee in return?
- I know that Texas Real Estate Commission rules require a broker to maintain written policies and procedures for the broker’s sponsored salespersons. I recently got my broker’s license, but I don’t sponsor any agents. Am I still required to have a manual?
