ATTENTION AGENTS
PLEASE REVIEW THIS INFORMATION WITH YOUR CLIENT
- All HUD homes are vacant and can be shown at anytime. Access the properties with HUD keys. Confirm availability of all HUD properties by checking: www.HUDhomestore.com AGENTS MAY NOT GIVE HUD KEY(S) TO A BUYER FOR ANY REASON.
- With a bid that is higher than the asking price on a HUD property, the Buyer may be required to pay the amount of the over bid in cash. Purchases made with FHA financing (203b or 203b with escrow repair) will require that the existing HUD appraisal be used. The lender should request a copy of the existing appraisal by written request. The request form can be found in bid package. You will find the bid package by clicking "addendums" and then the appropriate "sales package" link on the www.HUDhomestore.com site.
- As a condition of financing or for inspections the buyer may need seller permission to turn the utilities on at the property. The new accounts will need to be opened in the Buyer’s name. Permission to turn on the utilities is granted in writing. Request forms can be found in the last page of the bid package on the www.HUDhomestore.com site.
- If the buyer is getting a loan. The lender may require confirmation that the utilities are turned on and functioning. Confirmation is typically done by an appraiser. After the utilities are checked, the buyer will be responsible to turn the utilities off and to have the property winterized at their own expense.
- Municipal compliance. The selling agent is responsible for determining what may be necessary to obtain compliance with local municipal requirements. A buyer may not move into the home prior to obtaining a certificate of occupancy in some municipalities.
- No repairs or changes to the home or property may be made prior to the closing. Nothing may be moved into the home or onto the property prior to closing. NO EXCEPTIONS WILL BE ALLOWED.
- NOTE REGARDING ALL PROPERTIES IN WYOMING MICHIGAN: The City of Wyoming may have posted the property with a notice which may require a future inspection by the building department. Any required repairs to the home will be the responsibility of the buyer if the property is a HUD owned home. These repairs cannot me made prior to closing. To make sure all past inspections fees are paid up at closing, the agent working with the buyer is responsible for contacting the city building department (616-530-7285). Ask them to fax all billed and (not yet) billed invoices to the settlement agent so they may be paid at closing. HUD will not pay any invoices after closing.
- NOTE REGARDING ALL PROPERTIES IN HOLLAND MICHIGAN: The City of Holland may have posted the property with a notice which may require a future inspection by the building department. Any required repairs to the home will be the responsibility of the buyer if the property is a HUD owned home. These repairs cannot me made prior to closing. All inspections fees due to the City of Holland are the buyers responsibility. The agent working with the buyer is responsible for contacting the city at (616) 355-1330 for more information. HUD will not pay any invoices after closing.
- Agents, more information can be found in the following documents:
If you have additional questions please contact:
