Take the express lane to payday for every First Texas Home, Gallery Custom Home, or Harwood Home build job that you sell. No more waiting 9-12 months for closings! When your client contracts on a new build job, you will be eligible to receive 50% of the Earnest Money Deposit months ahead of closing.
Here is how it works: Earnest money is collected in two phases:
- Phase 1: 50% Earnest money requirement is collected at the time of contract executions.
- Phase 2: 50% Earnest money requirement is collected at the completion of the "Redline" Meeting. The Redline Meeting is when the Buyer, the builder, and the sales sign off on the final plans before construction commences.
At the completion of the Redline meeting and once the full earnest money deposit is collected, you will be eligible to receive a commission advancement equal to 50% of the full earnest money deposit.
Example: If your client purchases a $400,000 home with $5,000 in total Earnest Money due, you will receive a $2,500 commission advancement about 30 Days after the completion of the Redline Meeting.