Please Wait
Please Wait
TO ALL INVESTORS
FROM Dallas Texas Economic Development Corporation (DTEDC)
SUBJECT INVESTOR SALES
The following policy is effective immediately:
1. Every investor contract should include a non-refundable cashier’s check as option money of 10,000.00 per project. In addition each investor will also provide a refundable cashier’s check as earnest money based upon the completion price of specific project.
2. Investors must purchase and close a commercial project within 90 days. The purchaser must agree to close within 90 days or the contract is null and void as of day 91. Option Money deposits will not be refunded if closing fails to occur in a timely manner or if the investor has not followed the guidelines set forth herein.
3. The contract should include a commitment letter from an approved lender. (Not a mortgage broker). If an investor does not have a lending institution we will refer them to ours. In order to be a qualified commercial investor using our funding you must have a min. 750 credit score and 10,000,000.00 plus verifiable.
4. Investors may purchase a commercial project at bottom line. No other incentives, bonuses, or discounts apply to this price.
5. Dallas Texas Economic Development Corporation does NOT pay closing costs, title policy, or real estate bonuses when offering a bottom line purchase price. To receive any of these incentives, the price will be increased from our bottom line price.
6. All bonuses or fees paid at closing will be fully disclosed on the HUD-1 statement.
7. Dallas Texas Economic Development Corporation will pay the standard 3% realtor commission. Dallas Texas Economic Development Corporation does NOT participate in marketing agreements, third party disbursement agreements, assignment fees, or other creative ways to pull cash out at closing.
8. Dallas Texas Economic Development Corporation (DTEDC) reserves the right to designate certain commercial projects and communities for investor purchases. DTEDC reserves the right to limit the quantity of investor homes purchased in a community.
All negotiations, communications, and contracts must be handled by the Dallas Texas Economic Development Corporation Investor Relations Contact. Investor contracts will not be accepted if they are handled by a community salesperson. Community sales reps are instructed to allow investors to view the properties only. Please notify all sales reps you are an investor, or working with one, and have spoken with the Dallas Texas Economic Development Corporation investor relations contact Nick Datoo at nickdatoo@dtedevelopment.com
Download Commercial Loan Application Form
Download your copy: Commercial Memo
