this allows for two benefits; first, the sales contract outlines the electronic bid submission form and can be used to fill in the bid information, second, if your bid is awarded the package can be sent via overnight mail to be received within the deadline. sales contract – hud form 9548 (1/99): line by lineelectronic version: you may download and use the electronic version of this form so long as the “conditions of sale” is signed by all buyers, and you do not make any copies of the pdf contract (the form used must be from the printer). to produce a form that is filled out you would need to enter the hud case number and your confirmation number. deposit checks must be written out to the brokerage and must be in the selling broker’s possession prior to placing a bid.
closing costs can be found on page 2 of the forfeiture and extension agreement.line 6a– selling agent commission up to 5% of the purchase price.line 6b– n/aline 7– net to hud – line 3 minus lines 5, and 6. please be sure your math is correct on this line.line 8- purchaser type: investor or owner occupant. 2. conditions of salethe conditions of sale page is attached to the sales contract and must be signed by all purchasers.3. broker’s agreement to abide by hud’s earnest money forfeiture policythis document must be signed by the broker not the agent or an individual authorized in writing to sign on the broker’s behalf. owner occupant certification – hud form 9548d (1/98)required for all owner occupant purchasers – must be signed by all purchasers and the broker, not the agent – stamp signatures are not acceptable.9.
the following is a collection of tips and advise to assist agents when completing a hud sales contract and the related addendums. in many cases they are easy to complete, questionnaire type that will make sure you fill in every blank accurately. enter bid amount and amount of the earnest money (which is $500 if $50,000 or under or $1000 if $50,001 and over) and fill in that it will be held by hud. make sure the appropriate box is checked for the type of financing your buyer is getting and in compliance with what seller’s offering . if inserted on line 5 of the hud sales contract when the electronic bid is submitted. if the property purchased is located in one of these areas hud will no longer pay the settlement fee.
in non-buyer select areas hud closing agents are still utilized and this fee will be paid. if this is an investor bid please make sure that the company name is on line 1 and 2 of the contract. depending on your type of buyer and property, the hud sales contract will require additional agreements/addendums to complete the package. the following provides a list of documents to be attached to the sales contract and others that might be needed. the certification must be signed by the buyers and the selling agent’s broker of record if the offer was submitted as an owner occupant purchase. they have to indicate that they have not purchased a hud owned home in the last 24 months as an owner occupant and they will live in it for 12 months.
item 7: enter net amount due seller (purchase price [item 3], less items 5 and 6). contract will be awarded on the basis of the greatest. the pha shall evidence acceptance of this offer by executing at least three copies of form hud-51971-ii, purchase agreement, a copy of which is attached as an fha-3379, model form of subscription and purchase agreement. fha-3433, request for preliminary determination of eligibility as nonprofit sponsor or, hud sales contract package checklist, hud sales contract package checklist, hud forms 2021, fha purchase agreement, what is a hud contract.
real estate certification, signed by the buyer, seller, and selling real estate agent or broker (if not contained within the purchase agreement) are required. hud-93144, use agreement – section 236 with a rent supplement contract hud-94210-f1, invoice approval for contract/purchase order field offices. and conditions of the sales contract are true and (2) any other agreement entered into by any parties in connection with the real estate transaction is part, hud forms, fha amendatory clause form 2021 pdf, hud earnest money, fha purchase contract requirements, hud-9548, fha forms, all hud homes are, fha purchase agreement addendum pdf, broker designated signer letter of authorization, fha forms online.
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