Option B - Bank requirements for submitting offers

Realtors®

Do not send offer to listing agent, INSTEAD go to www.bidselect.com , search for the property by address and submit your offer online.

Please follow the instructions (these instructions can aslo be found by clicking on " preview contract package"

CONTRACT PACKAGE CHECKLIST

Please use this form to double-check your contract package before submitting to First Preston.

* Original state sales contract or real estate board approved sales contract with orignal signatures in BLUE ink
* Offer Worksheet Addendum (1 page)
* Addendum to Contract (3 pages)
* Prequalification Letter (If cash sale, include evidence of cash available via
buyers bank statement or letter from financial institution)
* Copy of required earnest money (as specified below) in certified funds, made payable to the Selling Agent’s real estate company as required in non-escrow states or to the Closing Agent (Escrow Company). Do not send the earnest money check to First Preston.
$1,000 for sales prices below $99,999
$1,500 for sales prices between $100,000 to $199,999
$2,500 for sales prices between $200,000 to $499,999
$7,500 for sales prices at $500,000 and above
NOTE: THE EARNEST MONEY CHECK MUST NOT BE PAYABLE TO SELLER
* Forms required by a local or state real estate commission/board
* Lead Base Paint Disclosure Addendum (only if home was built before 1978)
* Disclosure, Release and Indemnity (only if property has evidence of mold)

IMPORTANT: Please submit all documents together in one package. Mark the package “Contract Package” and address it to:

First Preston Management, Inc.

14651 Dallas Parkway, Suite 412

Dallas, TX 75254

Attn: Bank of America REO Marketing Department

Contracts must be ORIGINALS and sent preferably by an overnight service (FedEx, Airborne, Lone Star, etc.) to provide confirmation of the 2 business day deadline requirement. Please note the Property Number and Address on all documents. Contracts not received within 2 business days are subject to cancellation.

Disclaimer: Receipt or posting of the notice that a buyer’s offer has been “accepted” does NOT mean, explicitly or implicitly, that First Preston Management, Inc. or Bank of America, NA has entered into a binding real estate contract to sell the subject property to a buyer. Receipt of such notice simply acknowledges that a buyer’s offer appears to yield the highest net return to Bank of America of offers submitted, based on information provided at the time the offer is submitted for the advertised property. A binding contract is still subject to timely receipt of a properly completed and signed Sales Contract and satisfaction of all other necessary Bank of America, NA preconditions and requirements to a contract for purchase of Real Estate. Contracts are not considered binding until execution and delivery of the contract to the purchaser(s) or the purchaser’s agent by First Preston Management, Inc. and/or its authorized affiliates. If required or requested documents are not received in proper form within the time frame provided (2 business days from request), the Seller reserves the right to deem the offer “non-responsive” and re-list the property.