Texas Home Buyers Plus is a unique platform wherein multiple professionals are working together for the common goal of helping to assist a perspective home buyers and give them the opportunity to buy a home in a pre-determined time period. (1-6 months)
Many Home Buyers miss out on the opportunity to buy a home because one or more mishaps or hardships that have occurred in their past. Some of the events and choices that were made have negative outcomes, both to their credit and in many cases to their ongoing budget. One of the best ways to overcome obstacles from the past and the ill reported circumstances and obstacles, is to work with the elite group of professionals that can help change the situation and overcome the obstacles.
- In order to engage and be a Preferred Agent, the Agent must have a current broker signed agreement allowing the title/ closing company to deduct the credit repair fees from the buyer’s agent commissions at closing for any clients involved in (THBP) program.
- In addition to having a broker signed agreement the Agent must also have an agreement on file with (THBP) and its affiliates in order to take part as a Preferred Agent.
- Cost to the Broker/ Agent: The Broker/Agent: agrees to pay at closing, up to $500.00 per every $100,000.00 of purchase, from the buyer agency commissions.
(Ex: if a buyer were to purchase a property with a $200,000.00 purchase price, then the Broker/ Agent, would be responsible for “UP TO” $1,000.00 deducted from the Buyers Agency Commission at closing.)
- During the process of credit repair the Agent is to encourage the home buyer to follow the directives of the (THBP) credit professional as well as other professionals that are working together in order to correct and improve their credit and availability, within a timely manner.
- Agents further understands that if the buyer needs additional assistance, both the lender and the credit repair (THBP) professionals may ask the agent
- to help during the repair process.
- The Broker/ Agent in many cases will be the primary contact for the (THBP) during the repair program. Having a clear understanding of what is expected during the process will often fall within the Agents responsibility.
- Upon Completion under the (THBP) program and upon acceptance of a contract, a copy of both the contract and the information for the Title/ Closing company must delivered to the (THBP) and its affiliates both credit and Lender.
- If the Broker/ Agent has a question regarding the process, expectations, and results of the (THBP) program it is their responsibility to call and get further clarification from one of the supervisors within the program.
- Broker/ Agent must give in writing to the administrators of the THBP program notice of change of Brokerage, change of circumstance and other related changes in licensing in order to update the Broker/ Brokerage agreement(s), with the any new Broker / Brokerages. In the event that a Broker/ Brokerage will not sign the agreement with the (THBP), An associate or administrator will notify both the agent and the client and let them know that the agreement to pay at closing has changed. (Note – a change of Broker/Brokerage changes the Buyers Representation Agreement. Since buyers Representation Agreements remain with the broker under which the agreement was signed until released by such Broker)