EHOP-Dallas

Submitting Offers

EHOP-Dallas Purchase Offers will only be accepted from licensed real estate agents. Offers will only be accepted if complete.

IMPORTANT NOTICE
Purchase Offers are accepted during regular business hours from 8:30 a.m. - 5:00 p.m. on business days.

Purchase Offer's may only be submitted by licensed real estate agents.

Realtors must stamp-in Purchase Offers upon submitting an offer to EHOP-Dallas.

Offers delivered after 5:00 p.m. will be considered delivered at 8:30 a.m. the following business day.

Terms of financing and Buyer information will be reviewed to ensure that the offer meets the requirements of the program.

ON FIRST DAY OF MARKETING
Purchase Offers delivered prior to 10:00 a.m. (CST) are considered received at 10:00 a.m. (CST).

Purchase Offers delivered prior to the "First Day of Marketing" will not be accepted.

Multiple Offers

If multiple offers are received a lottery will be held to determine order of acceptance. Only complete offers will be eligible for the lottery.

Backup offers will be accepted for each property in order of acceptance.

Properties will be removed from the EHOP-Dallas web site once an acceptable offer is obtained and a contract is executed.

Offer acceptance dates, sales price, and subsidy are subject to change prior to contract execution.

The sales price represents the actual market value of the property. The sales price will be reduced by the subsidy amount (Homebuyer Enforcement Note) to determine the loan amount (mortgage) for purchase of the property.

Purchase Offers will be accepted in the following order:

Calendar Days 1-5
First Priority Buyers

Calendar Days 6-8
Homebuyers under 80% Area Median Income as outlined on the Household Income Chart

Calendar Days 9+
Homebuyers under 115% Area Median Income as outlined on the Household Income Chart

All Purchase Offers must be delivered in person to:

EHOP-Dallas, Inc.
100 N. Central Expressway, Suite 1299
Dallas, Texas 75201

Incomplete purchase offers will not be accepted and will be returned.

Faxed purchase offers are not acceptable.

What to Include in the Purchase Offer:

The following information must be submitted in the following order:

The appropriate current Texas Real Estate Commission (TREC) contract form and Resale Contract Addendum
Purchase Offer Cover Sheet
Officer, Teacher, Firefighter & EMT Certification Form, if applicable
Borrower’s Certificate and Authorization Form
Signed Watch Out for Lead Base Paint Poisoning Disclosure
[English Version] [Spanish Version]
Approval or pre-approval from a mortgage lender
(Signed) Lender’s Good Faith Estimate (GFE)
(Signed) Federal Tax Returns (Previous two (2) years)
Three (3) current consecutive pay stubs
Copy of earnest money check made payable to the appropriate approved title office
Copy of unexpired Drivers License, Residency or Work Authorization Card and Social Security Card
Lender's Uniform Residential Appraisal Report (URAR) (must be a full appraisal) - Due 10-days prior to closing
(Signed) Final 1003 (Mortgage Loan Application) – Due 10-days prior to closing
Copy of Homeownership Education Certificate – Due 10-days prior to closing

NOTE: Additional information may be required before an offer is accepted. Buyer's agent or buyer must respond within 5-days after a request for additional information is made or the offer may not be recognized.

Real Estate Agents
Licensed real estate agents who submit a Purchase Offer that is accepted and closed will receive a 3% sales commission at funding.

Contract Cancellation Process
In the event that a buyer cancels an EHOP-Dallas Purchase Offer or executed contract, the Real Estate Agent must immediately:

Call EHOP-Dallas at 214.651.7789
Submit a written notice signed by the homebuyer to cancel the Purchase Offer and/or contract.

EHOP-Dallas will confirm receipt of the notice to cancel with all parties involved.

Failure to do so may result decertification of the real estate broker and/or agent from the program.