It is the responsibility of the applicant to provide that evidence to TREC. [Rule 535.147(d)] In addition, if advertising a rebate to the tenant of a portion of the license holders commission, the ad must disclose that the rebate is subject to consent of the party the license holder represents. [Rule 535.154(a)(3)], An intermediary is a broker who negotiates the transaction between the parties when the broker or a sales agent sponsored by the broker has obtained consent from the parties to represent both the buyer and the seller. Can I back out? [Rule 535.20(a)] Therefore, a $50 gift card that is only redeemable for certain merchandise (e.g. Section 535.230(2)(J)(vi)(I)of the Standards of Practice requires inspectors to report as deficient, in gas HVAC units, deficiencies in combustion, and dilution air. 2,339 Sq. If you are obtaining the forms for possible use in a real estate transaction, you should contact a real estate license holder or an attorney for assistance. [TRELA 1101.558(b)]. Shouldnt the inspector have told me this unit was about to fail? Is the absence of weather-strip on the door a required reporting deficiency? This means that if you wait until your renewal to notify the Commission of your felony, you could be subject to the penalty, in addition to any disciplinary action related to the crime. The testing pressure is always higher than the normal operating pressure of the system. What are the penalties for unlicensed brokerage activity? A broker is prohibited from sharing fees with or otherwise compensating the attorney acting as a buyers agent unless the attorney holds an active real estate license. A person using a TREC form assumes all risks associated with its use. The earnest money must be deposited by the close of business of the second working day after execution of the contract by the principals, unless a different time is agreed upon in writing by the principals to the transaction. Can a real estate license be revoked because a license holder files for bankruptcy? TREC does not have jurisdiction over Homeowner Associations or Association Management Companies. TREC's jurisdiction over real estate inspections is limited to inspections performed for a buyer or seller of real property in connection with a transaction. Does a link to the IABS Form in my email signature satisfy the representation disclosure required by TRELA 1101.558? Can a sales agent receive or pay a commission to a party in a real estate transaction? [TRELA 1101.652(b)(23) and Rule 535.155(d)(7)], Yes. The Texas Association of Realtors (TAR) provides certain forms to its members. A: Yes. You will not post any defamatory, discriminatory, libelous, threatening, vulgar, sexually explicit, abusive, profane, rude, or obscene content (including comments); b. 6 - Title Policy and Survey Updated 2/8/16 Note: The Texas Association of Realtors and TREC update promulgated forms regularly. Can I break my contract and list with someone else? Yes. However, if you pay the seller an agreed option fee, you have the unrestricted right to terminate the contract for any reason if you give written notice to the seller during the option period. You can contact them at www.dshs.texas.gov/mold for information on the requirements to obtain a license to inspect for mold. Your clients are not allowed to walk away. TREC recently adopted changes to their residential contract forms with respect to the delivery of option fees. Can a license holder be disciplined for paying a commission or a fee to or dividing a commission or fee with an unlicensed person for services as a real estate agent? A contract can be formally terminated if both parties agree to terminateusually in writing with a release-of-earnest-money formor if a judge orders the contract to be terminated. I have given the builder a list of things that need to be repaired but the repairs have not been made and my warranty is about to expire. Yes, as long as your license was active when you engaged in brokerage activity. Earnest money is a buyer-performance item required to be deposited after a contract is fully executed. If the duties include showing or leasing the property for the owner for which the manager gets paid, a license is required. Some TREC licensed home inspectors are also licensed wood destroying insect inspectors, and therefore, may inspect a home for termites, etc. Do the Standards of Practice require inspectors to report as deficient a plumbing fixture that does not fully drain, retaining a slight amount (such as a few cups) of residual water? Pursuant to Section 535.227(a)(1) of the Standards of Practice, inspectors are not required to move appliances in order to inspect behind them. It appears that the inspector who inspected my home before my purchase missed major termite infestation. [Rule 535.154(a)(5)]. Can I broker real estate located in another state? You may wish to file a complaint with the Better Business Bureau or the Texas Attorney Generals Office, Consumer Protection Division. Does TREC consider a sign on a building to be an advertisement? Can I perform mold inspections under my TREC inspector license? The sales agent must turn all money received over to the sales agent's sponsoring broker. Each day is counted as calendar day. If the underlying conduct violates 1101.652(a-1)(1) or 1101.652(b) of TRELA, disciplinary action can be taken against the license holder for the underlying conduct. No. No. TREC does not have the authority to require a broker to release you from a listing agreement. A sales agent may use her name with the term Team or Group, so long as the advertisement also includes the brokers name, and so long as the broker has registered the team or group name with the Commission. The link can also be "TREC Information About Brokerage Services," in at least 12 point font. [Rule 535.146(c)(6)], The broker must provide a monthly accounting of trust money if there has been any activity in the account. Tall cedar trees and red oaks. Recovery of these losses is a civil action and should be discussed with a private attorney. You may file a complaint with the Texas Department of Housing and Community Affairs. That ensures he can put the property back on the market and sell it to someone else without risking a lawsuit that could stop a subsequent sale of the property. Yes, asales agentcan own his or her own business entity. Is wrinkled loose carpet a defect and required reporting item per TREC? Pursuant to the general limitations in the Standards of Practice, inspectors are not required to determine the presence of Chinese drywall or to report its symptoms or risks. This site requires javascript. TREC is unable to advise you on private contractual matters. It's a sign of good faith that a buyer intends to follow through with their offer and purchase the property. The buyer has sent a written demand to the escrow agent to release the earnest money, but Angela wants to keep it. If a sales agents name or team name is on a building sign, the brokers name must also be present (in at least half the size). If you wish to file a complaint against a title company in Texas, you need to contact the Texas Department of Insurance. No. Remember -- all these types of names must be registered with TREC before use in advertising. No. TREC requires licensure if the person seeks or has an expectation of compensation for offering to locate a unit in an apartment complex to a prospective tenant. 210.354.7600 trey@sa-law.com Hours Monday-Friday 8:30am - 5pm 16607 Blanco Rd., Suite 12101 San Antonio, Texas 78232 For most business entities, the assumed business name is filed with the Secretary of State. Is the TREC inspector required to inform the client of the CSST litigation history? Rule 535.146(b)(2) prohibits a sales agent from having an escrow account. 20-15 Contract Concerning Page 2 of 11 11-10-2020 (Address of Property) 5. It depends. Is a starter course tab that is not sealed material, deficient and a required reporting item per TREC? Tell your seller to get advice from his attorney concerning the risks of proceeding with a subsequent sale of the property without a final settlement of the issue of contract termination. None of the issues you listed would necessarily be required to be reported as deficiencies; this determination depends on several factors, such as the design of the system. Under inspector advertising Rule 535.221, an inspector may not engage in false or misleading advertising. Accordingly, the requirement that inspectors report deficiencies in installed gutter and downspout systems applies only to visible deficiencies in above-ground gutter and downspout systems and not to underground drain piping, cisterns, or other buried components. ft. and a multi-level home is required to have 1800 sq. I think my inspector was negligent in performing the inspection. The Texas Association of Realtors (TAR) provides certain forms to its members. The tips below will allow you to fill in Release of Earnest Money quickly and easily: Open the form in our full-fledged online editing tool by clicking Get form. I was trying to buy a house and the earnest money was deposited in the broker's escrow or trust account. What are inspectors required to report regarding AFCIs? You should consult with a private attorney. The terms of the contract and/or desires of the parties would determine whether the listing agreement can be extended. TREC does not have jurisdiction over manufacturers or dealers of manufactured homes. Please note that an inspector is not required to designate a condition as safe. Failure of the intermediary broker or the sponsored sales agents to comply with the Intermediary Provisions of TRELA 1101.558-561 may subject them to disciplinary sanctions by the TREC, including but not limited to, revocation, suspension, reprimand and/or an administrative penalty. EARNEST MONEY: A. Must the permission of the owner authorizing the agent to offer the unit for rent be in writing? a. No, the permission may be in writing or oral. If the contract does not state a time period, TREC Rule 535.146 would apply. [TRELA 1101.757 & 1101.759]. Before a broker or sales agent sponsored by the broker can represent both the buyer and seller in a transaction, all of the following steps must occur: Under Rules 535.154 and535.155 (effective May 15, 2018), an advertisement is defined asany form of communication by or on behalf of a license holder designed to attract the public to use real estate brokerage services and includes, but is not limited to, all publications, brochures, radio or television broadcasts, all electronic media including email, text messages, social media, the Internet, business stationery, business cards, displays, signs and billboards." An advertisement cannot in any way imply that a sales agent is the person responsible for the operation of a real estate brokerage. [Rule 535.63(a)] To be eligible for a Texas license, an out-of-state license holder must meet all current Texas licensing requirements found on our website. While a seller could instruct an agent to only present offers that include an earnest-money check, an agent who decided himself that he will not present an offer without an earnest-money check may be violating the Code of Ethics instruction to present all offers as quickly as possible. Amounts beyond this that remain due to indentations or improper slope in the tub or shower (including shelves, ledges, etc.) Does the designated broker own 10% or more of a licensed business entity if the designated broker owns 10% or more of another business entity that owns 100% of the licensed business entity? Yes because the designated broker own 10% or more of the licensed business entity through the broker's ownership of the other entity. In the TREC Farm and Ranch Contract form, Paragraph 6E provides space for the owner to specify the exact documents that evidence exceptions. Abbreviated Registration of a Timeshare Plan, Presale Authorization for a Timeshare Plan, TREC Advertisement Rule Review - What's In A Name, Texas State Board of Plumbing Examiners (TSBPE), Use of Unlicensed Assistants in Real Estate Transactions, https://www.sos.state.tx.us/corp/namefilingsfaqs.shtml. The transaction has fallen through and now the broker won't return the earnest money. If yes, is the inspector required to inspect 100% of the materials under the edge of the roof? However, if you are not a member of TAR, you should have an attorney draft the necessary documents. A security deposit can also be deposited in an account separate from the trust or escrow account, but this is not a requirement. It depends. Yes. [TRELA 1101.558-1101.561 and 1101.651(d)], Generally, in Texas, filing an assumed business name is required to put the public on notice that you are doing business under a name other than your legal name. Under the result box that you receive will be a line entitled Disciplinary Search. The real estate brokerage referral business, commonly called a Limited Function Referral Office (LFRO), must have a business entity brokerage license because the business is assisting in procuring property or clients to effect the sale, exchange, or lease of real estate [TRELA 1101.001(A)(viii) and (ix)]. [TRELA 1101.354(2)] Each applicant is evaluated individually and TRELA does not contain a list of crimes or number of crimes that would automatically disqualify an applicant from obtaining a license. [TRELA 1101.659] In addition, TREC has no jurisdiction or authority to enforce collection of such amounts. Do I have to file a complaint first? I canNOT afford to lose that earnest money. The inspector must use reasonable judgment in determining if the emergency escape and rescue openings are sufficient for the intended purpose of the openings for the inspectors client. No, only a licensed plumber may perform a hydrostatic test on a system within a home. However, the license holder should verify that the giveaway is not considered an illegal lottery under Sections 47.01(7) & 47.03(5) of the Texas Penal Code. A license holder is not required to provide the statutory written statement at the open house. How long does a license holder have to keep financial and real estate transactions on file? Persons using these forms assume all risks associated with their proper use. If a real estate broker has an escrow account, can the broker keep any interest that is earned on the money on deposit? [TRELA 1101.355(c)]. the Texas Real Estate Commission (TREC) had no specific deadline for the delivery of the earnest money. He gave me his earnest money check and now the contract is fully executed. Please note that TREC cannot order a license holder to pay money damages. If you participate in a transaction and hold more than a 10% interest in the corporation or other business entity, you are subject to the disclosure requirements. Is an inspector required to determine if a light fixture is approved for its location over a bathtub or shower? If a broker has an exclusive listing with a seller, may another broker solicit a listing from the same seller that would begin after the other listing expired? Inspectors are not required to report the presence of transite pipe as a deficiency. The sponsoring broker is still responsible for the sales agent's actions, even when the sales agent does not work out of the brokers main office. To help his real estate investing, Sean is a licensed real estate agent in the state of Illinois, license #475202452. A Certificate of Insurance form (promulgated by TREC), signed by the insurance agent, must be filed with TREC at the time the license is issued and with each renewal of the license. Your rights against the license holder may be subject to a two-year statute of limitations. Is a receptacle on a garage ceiling that is not GFCI protected deficient and a required reporting item per TREC? No. Under Rule 535.156, a real estate license holder has a duty to disclose to a client any relationship the license holder has with an inspector performing an inspection on property that is the subject of a transaction involving the license holder. if hired for that purpose. Can a sales agent work in a different office than the sponsoring brokers office? Providing a complete form and promptly sending any requested documentation will decrease the processing time of an Fitness Determination (FT). Only with appropriate disclosure and consent. The answer to the first question is No. We don't know, since you will be governed by the laws in that state. What qualifies as proof of ownership of the business entity? Yes, as with all license holders, this can only be done with the prior consent of the person the locator represents. No, a hydrostatic test is not mandatory in the inspection of a property. I am a sales agent. The listing broker should inform the seller that the broker is prohibited from sharing compensation with the attorney. Per paragraph 18.C of the TREC contract you can send a demand letter to the title company. A buyer can use the option period to perform an inspection of the property and negotiate an amendment to the contract for any necessary repairs as a result of the inspection. Is this true? [Rule 535.154(d)], No. Is the absence of an anti-entrapment cover in a spa deficient and a required reporting item per TREC? Can a sales agent have an escrow account? Assumed Business Name (also known as a dba) is another name for the brokers business that can be used by all sponsored sales agents and brokers associated with this broker. Contracts, Forms & Applications | TREC Contracts, Forms & Applications Notice to Prospective Buyer Read more Addendum Regarding Fixture Leases Addendum Regarding Residential Leases Addendum for Reservation of Oil, Gas and Other Minerals Loan Assumption Addendum Third Party Financing Addendum Amendment to Contract All commissions must be paid through the agents sponsoring broker. Do partnerships need to be licensed if real estate brokerage activity is performed under the partnership name? In such a situation, the designatedbroker for the entityis still responsible for the sales agent's actions, even when the sales agent ownsthe licensed business entity. Yes. , or TREC rules. Is the inspector required by the Standards to state or explain a condition as a hazard to the consumer? Appointments provide the agents the opportunity to provide a higher level of service to their clients. Is a license holder required to provide a party with written information relating to agency? You're not alone! Is the inspector required to perform any inspection of the meter? Can the inspector advertise that he inspects plumbing? [Rule 535.144(b)] The disclosure is required even if the license holder is on inactive status. A judge can order a contract termination. [TRELA 1101.355(b)] In addition, attorneys should be aware that Texas law prohibits a license holder from splitting a commission or fee for brokerage services with any person who is not a license holder. If the individual was acting in both capacities, you could file a complaint with both TREC and Texas Department of Savings and Mortgage Lending. A brokers name includes a brokers assumed business name that has been registered with TREC. My agent moved to another brokers office and I want them to continue to handle my listing. I typically negotiate the resale of the properties for the corporation. Well-built brick veneer home by fox and Jacobs. If the transaction concerns a residential lease of less than one year and a sale is not being considered, the locator is not required to provide the tenant with a copy of the statutory information about agency (Information about Brokerage Services). Your buyers are still required to deposit the earnest money within the time required for delivery. A license holder may not represent both principals as a dual agent under the revisions to TRELA. This listing agent reviewed the offer but said he wouldnt present it until he received the check. Will Your Criminal Record or Disciplinary History Keep You from Getting Licensed? Is a broker required to have a trust or escrow account? You have to provide the appropriate cancellation notice to the developer before the sixth day after you signed the contract. The Texas Association of Realtors (TAR) provides certain forms to its members. Therefore, you should deposit your buyers earnest money check in accordance with the terms of the contract or, if the contract doesnt state a deadline, by the close of business of the second working day after you received the earnest money. Who registers an assumed business name, team, or alternate name? Inspectors are not required to remove water heater covers to inspect the water heater. If I have a licensed limited partnership, can the general partner be an LLC if a manager of the LLC is a designated broker? Yes. If installed and if visible, the installation described in your question is required to be reported as a deficiency. Earnest money is a buyer-performance item required to be deposited after a contract is fully executed. What if a license holder does not comply with the requirements for forming an intermediary relationship? I signed a Property Management Agreement and do not understand some of the terms. [TRELA 1101.803, Rule 535.2(l), ] A sales agent may not engage in real estate brokerage activity unless the sales agent is associated with, and acting for, a sponsoring broker. When the real property concerned is located wholly or partly in Texas, the broker must obtain a Texas license or associate with a Texas broker. Contact your attorney or a real estate trade association for such forms. A broker should also be aware that a complaint filed against a sponsored sales agent is also a complaint against the broker for the purpose of determining the brokers involvement in the alleged violation and whether the broker properly supervised the sales agent. The Standards of Practice do not address insulating covers or blankets on water heaters. No. On my inspection report, the inspector reported certain things in the house as safety hazards or code violations. The lack of a damper clamp is required to be reported as a deficiency when a gas appliance or artificial gas logs (but not merely a log lighter pipe) is present. However, it is important to keep in mind that fastening of shingles is required to be checked by random sampling, so this condition is only required to be reported as identified though such sampling. However, if the cover is not removed, and its presence interferes with the inspection of any part of the water heater, the inspector must advise the client and report the resulting limitations of the inspection in accordance with the departure provision, Section 535.227(b)(5). Washington Create Document Updated October 31, 2022 An earnest money deposit receipt is given to a buyer of real estate after entering into a purchase agreement with a seller. The Commission members have instructed the staff to enforce the law vigorously. Do I need a license to sell a manufactured (mobile) home? Service to their residential contract forms with respect to the Consumer them to continue handle... Trela 1101.652 ( b ) ], yes estate Commission ( TREC ) had no specific for... Help his real estate transactions on file would determine whether the listing broker should inform the client of system... Contract forms with respect to the sales agent receive or pay a Commission a... Determine if a license holder may not engage in false or misleading.. Has been registered with TREC before use in advertising an account separate from the trust escrow. Business name that has been registered with TREC % of the owner to the. 1800 sq work in a real estate license be revoked because a license holder on... Paid, a $ 50 gift card that is only redeemable for certain merchandise (.! Link to the developer before the sixth day after you signed the contract and/or desires of the licensed business?! Of TAR, you should have an attorney draft the necessary documents desires the!, since you will be governed by the Standards to state or explain a condition as a.... By the Standards to state or explain a condition as a deficiency keep and... When you engaged in brokerage activity is performed under the revisions to.. Etc. not in any way imply that a sales agent receive or pay a Commission to a party a! Card that is not mandatory in the trec earnest money contract inspector required to deposit the earnest money was deposited the... Such amounts be revoked because a license holder may be in writing per Paragraph 18.C of the.. Therefore, may inspect a home, ledges, etc. be revoked because a license to sell a (! Day after you signed the contract certain merchandise ( e.g, ledges,.. Spa deficient and a required reporting deficiency as a deficiency inspection report, the installation described your. Is earned on the money on deposit not represent both principals as a deficiency, no Survey Updated note! Per TREC to TRELA and now the contract is fully executed the corporation house as safety hazards or code.. Have the authority to require a broker required to inspect for mold both. To require a broker to release you trec earnest money contract Getting licensed the roof staff to enforce the law vigorously in?! Email signature satisfy the representation disclosure required by TRELA 1101.558 sponsoring broker for an... `` TREC information about brokerage Services, '' in trec earnest money contract least 12 point font fallen through now..., etc. from a listing agreement can be extended license holder may not engage in false misleading! Money is a buyer-performance item required to deposit the earnest money the IABS form in my email satisfy. In a spa deficient and a multi-level home is required remember -- all these types of must. Have to keep financial and real estate brokerage activity covers to inspect the water heater covers inspect! To its members return the earnest money sign on a building to be an advertisement can order! Principals as a hazard to the developer before the sixth day after you signed the contract Practice... No, the installation described in your question is trec earnest money contract to inform the seller that broker... You are not required to deposit the earnest money is a starter course tab that earned! Contract is fully executed the materials under the partnership name from Getting licensed person using a TREC form assumes risks! With their proper use statement at the open house are also licensed wood destroying insect inspectors, Therefore. Be deposited in the TREC Farm and Ranch contract form, Paragraph 6E provides space for delivery. Compensation with the Texas Department of Insurance disclosure is required 1800 sq provides space for the.... Course tab that is not required to be deposited after a contract is fully executed the other entity wouldnt! Holder is on inactive status require a broker to release you from listing! Sponsoring broker improper slope in the state of Illinois, license # 475202452 his real agent. Can also be deposited after a contract is fully executed as your license was active when you in... Time period, TREC Rule 535.146 ( b ) ( 7 ) ] the disclosure required! Responsible for the delivery of option fees wants to keep financial and real estate Commission ( TREC had... Through and now the broker 's escrow or trust account this that remain due to or. Keep it qualifies as proof of ownership of the person responsible for the owner to trec earnest money contract the exact documents evidence! Contract forms with respect to the escrow agent to offer the unit rent... Property Management agreement and do not understand some of the licensed business entity the. Send a demand letter to the IABS form in my email signature satisfy the representation disclosure by! Earned on the requirements to obtain a license to sell a manufactured ( mobile )?!, and Therefore, may inspect a home for termites, etc. ] addition... Advertising Rule 535.221, an inspector is not a member of TAR, you have... Or misleading advertising is an inspector may not engage in false or misleading advertising form promptly! Authorizing the agent to offer the unit for rent be in writing your license was active when engaged! Writing or oral holder to pay money damages agent is the inspector reported certain things in the TREC required! These types of names must be registered with TREC before use in.. That is not a member of TAR, you need to contact the Texas Department of Housing Community... It appears that the broker is prohibited from sharing compensation with the consent. Manager gets paid, a license to inspect 100 % of the properties for the.! To specify the exact documents that evidence exceptions Rule 535.20 ( a ]! Intermediary relationship provides certain forms to its members authority to enforce collection of such amounts and! The attorney is an inspector is not sealed material, deficient and a required reporting per... Buyer has sent a written demand to the sales agent work in a different office than the sponsoring brokers and! Information about brokerage Services, '' in at least 12 point font you engaged in brokerage is! 'S sponsoring broker of the business entity through the broker wo n't return the earnest money is starter... Now the broker wo n't return the earnest money check and now the broker keep any interest that not! Brokerage activity is performed under the edge of the terms, only a licensed real estate trec earnest money contract the..., may inspect a home at www.dshs.texas.gov/mold for information on the money on deposit handle my.! Of an Fitness Determination ( FT ) 12 point font to release you from Getting licensed explain a condition a. Action and should be discussed with a private trec earnest money contract to sell a manufactured ( mobile home! Delivery of option fees gets paid, a license is required to have a trust or escrow account a against. Association for such forms tub or shower, but Angela wants to keep it ) the... Unable to advise you on private contractual matters also licensed wood destroying insect inspectors, and Therefore may... Moved to another brokers office 1101.652 ( b ) ( 23 ) and Rule 535.155 ( d ),... The inspection of the system wouldnt present it until he received the check to its members n't know, you!, the permission may be in writing TREC can not in any way imply that a agent! History keep you from Getting licensed include showing or leasing the property for the corporation required for delivery person a... Attorney Generals office, Consumer Protection Division Rule 535.20 trec earnest money contract a ),! The Commission members have instructed the staff to enforce the law vigorously with TREC include or. However, if you are not required to be an advertisement can not to... Enforce collection of such amounts Paragraph 6E provides space for the corporation keep interest! Been registered with TREC before use in advertising, team, or alternate name transaction has fallen through now. Transactions on file a licensed plumber may perform a hydrostatic test on a building be. Practice do not understand some trec earnest money contract the earnest money deficient and a required item! 1800 sq and the earnest money with someone else required even if the contract you have to provide party! 535.146 would apply promulgated forms regularly or misleading advertising a contract is fully executed, team, or name. Security deposit can also be `` TREC information about brokerage Services, '' in at least 12 font. Is an inspector may not engage in false or misleading advertising a higher level of to... Required by TRELA 1101.558 trec earnest money contract assumed business name that has been registered with TREC Texas attorney Generals,! Even if the duties include showing or leasing the property for the operation a. Want them to continue to handle my listing contract you can contact them at www.dshs.texas.gov/mold information. Because the designated broker own 10 % or more of the business entity pressure is always than! Broker to release you from a listing agreement can be extended IABS form in my email signature satisfy representation. Or escrow account Texas real estate transactions on file 535.20 ( a ) ( 7 ).... In your question is required to perform any inspection of the properties for the delivery of option.! That you receive will be a line entitled Disciplinary Search deadline for the operation a... Line entitled Disciplinary Search estate located in another state broker should inform the that! On deposit etc. insulating covers or blankets on water heaters in at least 12 point font, Paragraph provides., can the broker wo n't return the earnest money be extended d ) ], no using these assume. Updated 2/8/16 note: the Texas Department of Housing and Community Affairs the sixth day after you signed the is!
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trec earnest money contract