Fill - Free fillable ALASKA Nonprofit Sales Package (BLB Resources, Inc.) PDF form

ALASKA Nonprofit Sales Package

Version 9

Please fill in ALL information in the fields below to populate the Investor Package. The contract package should

be complete and signed by the purchaser(s) and Selling Broker prior to submitting an offer. If the bid is

accepted, the completed contract package and COPY of the Earnest Money Deposit must be received by

BLB Resources within 2 business days of provisional bid acceptance. The ORIGINAL Earnest Money

Deposit must be received by the Listing Agent within 2 business days of bid acceptance.

Property Information

FHA Case Number:

Property Address:

(Include City, State, Zip Code, and County)

Purchaser(s) Information

Purchaser(s) Legal Name: 1. 2.

Purchaser(s) SSN/EIN: 1. 2.

Purchaser(s) Phone Number: 1. 2.

Title Style (Deed):

Title Name(s) and Style:

Purchaser Address:

Purchaser City/State/Zip:

Selling Agent/Broker Information

Brokerage Name:

Broker Name:

Brokerage EIN: NAID:

Brokerage Address: City/St/Zip:

Brokerage Phone:

Selling Agent’s Name:

Selling Agent’s Cell: Agent Email:

Purchase Information Amounts MUST match the provisionally accepted bid

Line 3 - Purchase Price: Earnest Money Deposit:

Line 5 - Closing Costs: Maximum Closing Costs:

Line 6a - Selling Broker Commission:

Line 6b - Listing Broker Commission:

Line 7 - Net to HUD: Date of Offer (mm/dd/yyyy):

Line 8 - Purchaser Type: Nonprofit Org. Public Housing Agency Other Gov. Agency

Discount at Closing: %

Financing Type: FHA 203(b) FHA 203(b) Repair Escrow - in the amount of:

FHA 203(k) Conventional Loan Cash

Hold as Back-up: YES NO

Lead-Based Paint Addendum Attached YES NO

If the property was built prior to 1978, the Lead-Based Paint Addendum must be included. To access

this addendum, visit

www.HUDHomeStore.com and view the “Addendums” tab for the case number.

Closing Agent/Escrow Company Information

Company Name:

Company Address: City/St/Zip:

Escrow Officer’s Name: Phone:

Email: Title ID #:

Has company closed previous HUD transactions? YES NO

Commissions must match HUDHomeStore.com Bid

Reset Form

Print Package

ALASKA Nonprofit Sales Package Verification

Please verify the information below by checking the boxes after the package has been printed and

completed. Please make a copy of your sales package prior to sending the original to BLB Resources

via overnight delivery. Errors and/or Omissions on the HUD 9548 Sales Contract may result in the

cancellation of the provisional bid acceptance. Corrections to the HUD Sales Contract will require

a new original

to be sent overnight delivery to BLB Resources.

HUD Sales Contract

 FHA Case Number is correct

 Purchaser’s Legal Name

 Property Address includes city, state, and county

 All purchase amounts match the accepted bid

o Lines 3, 5, 6a, 6b, and 7

 Buyer Select Escrow Company entered on Lines 3 and 9

 Line 8: Appropriate box is checked for nonprofit organization or

other government agency, and appropriate discount at closing is

filled in

 Purchaser(s) initialed Line 12 of the sales contract

 Purchaser(s) signed and dated the sales contract (Line 13)

 NAID is entered in the Certification of Broker section

Earnest Money Deposit

 COPY of Cashier’s Check (from a bank) or Postal Money Order is attached

 Cashier’s Check or Postal Money Order is made out to “[Buyer Select Escrow Company] OR

[purchaser’s name]”

 ORIGINAL check or money order delivered to Listing Agent

Addenda – Purchaser has signed/initialed and included the following:

 “Conditions of Sale” (page following the sales contract)

 Signed and initialed the “Electronic Filing of HUD-9548 Contract Addendum”

 Completed and signed the “Conflict of Interest Certification”

 “Radon Gas and Mold Notice Release Agreement”

 Signed and initialed the “Lead-Based Paint Addendum” AND the “Additional LBP Information Receipt

Addendum” if property was built prior to 1978

 “Forfeiture and Extension Policy”

 “For Your Protection: Get a Home Inspection”

 “Buyer Select Addendum”

 “Flood Zone Property Disclosure and Addendum” if property located in FEMA Flood Zone

 “U.S. Dept. of HUD Closing Instructions and Certification” Addendum signed by escrow officer

 Purchaser and Escrow Officer initialed and signed “Additional Escrow Instructions”

 Land Use Restriction Addendum (LURA)

Prequalification Letter or Certification of Cash Funds

 Prequalification Letter dated within 30 days prior to bid acceptance is attached

 Prequalification Letter includes purchaser(s) name, amount of prequalification, type of loan, and

lender’s contact information, including loan officer’s email address, on lender’s letterhead

 If this is a cash sale – Certification of cash funds is included (bank statement)

Overnight Package to:

16845 Von Karman Ave.

Suite 100

Irvine, CA 92606

(949) 261-9155

ref. Handbook 4000.1 form HUD-9548 (8/2016)

Previous editions are obsolete

U.S. Department of Housing

and Urban Development

Office of Housing

Federal Housing Commissioner

Instructions for

Sales Contract

Property Disposition Program

OMB Approval No. 2502-0306 (exp. 04/30/2020)

This Sales Contract, identified as form HUD-9548, must be prepared and transmitted in accordance with the following

instructions. The form provides an original for fiscal and legal review, signed copy for the Purchaser, and unsigned

information copies for the Purchaser, the selling Broker, and HUD's designated representative..

Remove this Instruction Sheet and type the HUD Case Number in the box in the upper right.

Item 1: Type Purchaser(s) name and complete property address.

Item 2: Enter name(s) and style in which title will be taken.

Item 3: Enter Bid Amount and amount of earnest money Purchaser has deposited.

Enter holder of earnest money deposit in accordance with Seller's instructions.

Item 4: Enter when appropriate, strictly in compliance with Seller’s offering. If Seller has offered the property with insured financing

available, and Purchaser is buying under such means, check the first block and the applicable type of insured financing, and

complete the down payment and mortgage information. If the insured mortgage involves a repair escrow (and has been so

offered by Seller), also check the appropriate block and insert the amount of the repair escrow.

Note: The amounts shown for “cash due at closing” and “balance by mortgage” do not include the FHA Mortgage

Insurance Premium, prepaid expenses or closing costs Seller has agreed to fund into the mortgage.

Note: If Purchaser is paying cash or applying for conventional or other financing not involving FHA, check appropriate block.

Item 5: Enter amount of financing/closing costs Seller is expected to pay.

Note: If the amount stated in Item 5 exceeds actual and typical allowable financing and/or closing costs, such excess shall

not be paid by Seller and may not be used by Purchaser to reduce amount(s) owing to Seller.

Item 6: Enter dollar amount Seller is expected to pay, including any selling bonus if offered by Seller. The commission will be

paid by Seller upon completion of closing.

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

acceptable net return to Seller.

Item 8: Enter appropriate occupancy information. If left blank, Purchaser will be considered as an investor. If purchaser qualifies for

discount, enter percent. Discount will be reduced by amounts, if any, on Line Items 5 and 6. (Do not enter discounted price

on contract.)

Item 9: Enter in accordance with HUD's instructions.

Item 10: Enter appropriate back-up offer information.

Item 11: Enter if an addendum is to be attached to and made a part of this contract.

Note: Addendum not previously approved by Seller may not be made a part of this Contract. Approved addendum must be

signed by, and in the same style as, those signing as Purchaser(s).

Item 12: Purchaser(s) must initial in appropriate space.

Other: a. Failure of the Purchaser to perform in accordance with this contract may cause the Seller to retain all or a portion of the

earnest money deposit. Broker must be certain this is fully explained to and understood by the Purchaser(s).

b. Enter Selling Broker’s Name and Address Identifier (NAID). If broker has not been issued a SAMS NAID, complete forms

SAMS-1111, Payee Name and Address, and SAMS-1111-A, Real Estate Broker Certification, along with

required documentation, and attach to this contract. Contact HUD's local designated representative.

c. The Broker is required to inform Purchaser of the Conditions of Sale on the reverse of the Sales Contract, and particularly

of Purchaser's right and responsibility for satisfying itself as to the full condition of the property prior to submitting an offer

to purchase and that Seller will provide no warranty or perform any repairs after acceptance of the Contract.

Signatures: Sign Original, leaving carbon inserts intact, making certain that the signature(s) appears on all copies.

Transmittal:Forward the Original with Copies 1 and 2 to HUD's designated representative. Copies 3 and 4 are to be retained by Broker

and Purchaser as information copies. Upon acceptance, HUD's designated representative will return the signed Copy 1 to

Broker for delivery to Purchaser(s). HUD's designated representative will retain Copy 2.

Public reporting burden for this collection of information is estimated to

average 30 minutes per response, including the time for reviewing instructions,

searching existing data sources, gathering and maintaining the data needed, and

completing and reviewing the collection of information. This information is

required to obtain benefits. HUD may not collect this information, and you are

not required to complete this form, unless it displays a currently valid OMB

control number. This information is required in order to administer the Property

Disposition Sales Program (24 CFR Part 291). The collection of information is

required in order to provide a binding contract between the property purchaser

and HUD. A real estate broker or one of its agents completes this form. If this

information were not collected, HUD would not be able to administer the

Property Disposition Sales Program properly to avoid waste, mismanagement,

and abuse. While no assurances of confidentiality are pledged to respondents,

HUD generally discloses this data only in response to a Freedom of Information

request.

Privacy Act Statement: The

epartment of Housing and Urban Development is

authorized to collect this information by the National Housing Act, Section 235(b), P.L.

479, 48 Stat. 12 U.S.C. 1701 et seq. HUD is authorized to collect the Social Security

Number (SSN) by Section 165(a) of the Housing and Community Development Act of

1987, P.L. 100-242, and by Section 904 of the Stewart B. McKinney Homeless Assistance

Amendments Act of 1988, P.L. 100-628. The information is being collected to determine

the amount of assistance (if any) the applicant is entitled. The information is also used as a

tool for managing the program(s) related to this form, and for protecting the Government’s

financial interests. The information may be used to conduct computer-matching

programs to check for underreported or unreported income. The SSN is used as a

unique identifier. The information may be released to appropriate Federal, State, and local

agencies, and when relevant, to civil, criminal, or regulatory investigators and/or

prosecutors. This information will not be otherwise disclosed or released outside of HUD

except as permitted or required by law. It is mandatory that you provide all of the requested

information, including all SSN(s), for you and all other household members age six years

and older. Failure to provide SSN(s) and required documents will result in a delay or loss of

assistance payments.

ref. Handbook 4000.1 form HUD-9548 (8/2016)

Previous editions are obsolete

Broker's Business Name & Address: (for IRS reporting) (include Zip Code) Broker's EIN or SSN: (include hyphens) SAMS NAID:

Signature of Broker: Broker's Phone No:

Type or print the name and phone number of sales person:

Purchaser(s): (type or print names & sign) Purchaser(s) Address:

Purchaser(s) Social Security Number (SSN) or Employer Identification Number (EIN) (include hyphens) Phone No: Date Purchaser(s)Signed Contract:

Seller:

Secretary of Housing and Urban Development By: (type name & title, & sign) Date Contract Accepted by HUD:

U.S. Department of Housing and Urban Development

Office of Housing

Federal Housing Commissioner

HUD Case No.

Certification of Broker: The undersigned certifies that: (1) neither he/she nor anyone authorized to act for him/her has declined to sell the property

described herein to or to make it available for inspection or consideration by a prospective purchaser because of his/her race, color, religion, sex, familial

status, national origin, or disability; (2) he/she has both provided and explained to the purchaser the notice regarding use of Seller’s closing agent; (3)

he/she has explained fully to the purchaser the entire terms of the contract, including Condition B on the reverse hereof; and (4) he/she is in compliance

with Seller’s earnest money policy as set forth on HUD forms SAMS-1111, Payee Name and Address, and SAMS-1111-A, Real Estate Broker Certification,

which he/she has executed and filed with Seller.

This section for HUD use only. Broker notified of: Authorizing Signature & Date:

Acceptance Back-Up No. _____________________

Rejection Return Earnest Money Deposit X

Sales Contract

Property Disposition Program

1. I (We), ___________________________________________________________________________________

(Purchaser(s)) agree to purchase on the terms set forth herein, the following property, as more particularly

described in the deed conveying the property to the Secretary of Housing and Urban Development:

_______________________________________________________________________________________________________________________ .

(street number, street name, unit number, if applicable, city, county, State)

2. The Secretary of Housing and Urban Development (Seller) agrees to sell the property at the price and terms set forth herein, and to prepare a deed

containing a covenant which warrants against the acts of the Seller and all claiming by, through or under him. Title will be taken in the following

name(s) and style: _________________________________________________________________________________________________________ .

3. The agreed purchase price of the property is ...........................................................................................................> 3. $ ________________________

Purchaser has paid $ _____________________

earnest money to be applied on the purchase price, and agrees

to pay the balance of the purchase price, plus or minus prorations, at the time of closing, in cash to Seller. The

earnest money deposit shall be held by ___________________________________________________________ .

Purchaser is applying for FHA insured financing [ 203(b),

203(b) repair escrow, 203(k)] with a cash

down payment of $

due at closing and the balance secured by a mortgage in the amount of

for months (does not include FHA Mortgage Insurance Premium,

prepaid expenses or closing costs Seller has agreed to fund into mortgage.).

Said mortgage involves a repair escrow amounting to $ .

Purchaser is paying cash or applying for conventional or other financing not involving FHA.

5. Seller will pay reasonable and customary costs, but not more than actual costs, nor more than paid by a typical Seller

in the area, of obtaining financing and/or closing (excluding broker's commission) in an amount not to exceed ........> 5. $ _______________________

6a. Upon sales closing, Seller agrees to pay to the broker identified below a commission (including

selling bonus, if offered by seller) of ......................................................................................................................> 6a. $ _______________________

6b.

If broker identified below is not the broad listing broker, broad listing broker will receive a commission of: ....

6b. $ _______________________

7. The net amount due Seller is (Purchase price [Item 3] less Items 5 and 6) ............................................................> 7. $

8. Purchaser is:

owner-occupant (will occupy this property as primary residence)

investor

nonprofit organization

public housing agency

other government agency. Discount at closing: %

Discount will reduced by amounts, if any, listed on Line Items 5 and 6.

9. Time is of the essence as to closing. The sale shall close not later than ____________ days from Seller’s acceptance of contract. Closing shall

be held at the office of Seller’s designated closing agent or _______________________________________________________________________ .

10. If Seller does not accept this offer, Seller

may

may not hold such offer as a back-up to accepted offer.

11. Lead based paint addendum

is not attached; Other addendum is

is not attached hereto and made part of this contract.

12. Should Purchaser refuse or otherwise fail to perform in accordance with this contract, including the time limitation, Seller may, at Seller's sole option,

retain all or a portion of the deposit as liquidated damages. The Seller reserves the right to apply the earnest money, or any portion thereof, to any sums

which may be owed by the Purchaser to the Seller for rent. Purchaser(s) Initials:_______ Seller's Initials:_______

13. This contract is subject to the Conditions of Sale on the reverse hereof, which are incorporated herein and made part of this contract.

Certification of Purchaser: The undersigned certifies that in affixing his/her/its signature to this contract he/she/it understands:

(1) all the contents thereof (including the Conditions of Sale) and is in agreement therewith without protest; (2) he/she/it is responsible for

satisfying itself as to the full condition of the property; and (3) that Seller will not perform repairs after acceptance of this contract.

✔

: /

Listing Agent until ratification and then

ref. Handbook 4000.1 form HUD-9548 (8/2016)

Previous editions are obsolete

Conditions of Sale

A. All assessments, including improvement assessments which are

available for payment without interest or penalty for advance pay-

ment, taxes, rent, and ground rent, if any, shall be prorated as of the

closing date.

B. Seller makes no representations or warranties concerning the

condition of the property, including but not limited to mechanical

systems, dry basement, foundation, structural, or compliance

with code, zoning or building requirements and will make no

repairs to the property after execution of this contract. Pur-

chaser understands that regardless of whether the property is

being financed with an FHA-insured mortgage, Seller does not

guarantee or warrant that the property is free of visible or hidden

structural defects, termite damage, lead-based paint, or any

other condition that may render the property uninhabitable or

otherwise unusable. Purchaser acknowledges responsibility for

taking such action as it believes necessary to satisfy itself that the

property is in a condition acceptable to it, of laws, regulations and

ordinances affecting the property, and agrees to accept the prop-

erty in the condition existing on the date of this contract. It is

important for Purchaser to have a home inspection performed on

the property in order to identify any possible defects. If FHA

insured financing is used, up to $200 of the cost to perform the

inspection may be financed into the mortgage. Names of home

inspection companies can be found in the yellow pages of your

telephone directory under the heading “Home Inspection Services.

C. If financing is involved in this transaction (Item 4), Purchaser agrees

that should he/she/it fail to provide documentation indicating that

proper loan application was made in good faith within 10 calendar

days of the date this contract was accepted by Seller, and/or

thereafter otherwise to put forth good faith efforts to obtain necessary

financing, Seller shall have the option of rescinding this contract and

retaining all or a portion of Purchaser's earnest money deposit.

D. Seller may rescind this contract and return all or a portion of

Purchaser's earnest money deposit under the following conditions:

1. Seller has not acquired the property.

2. Seller is unable or unwilling to remove valid objections to the title

prior to closing.

3. Seller determines that purchaser is not an acceptable borrower.

Tender of the deposit shall release the Seller from any and all claims

arising from this transaction.

E. Purchaser may not perform repairs nor take possession of the prop-

erty until sale is closed. Risk of loss or damage is assumed by Seller

until sale is closed, unless Purchaser takes possession of the property

prior thereto, in which case State law shall apply. (1) If sale involves

FHA insured financing and after damage the property no longer

meets the intent of Minimum Property Standards (MPS), Seller may,

at its option, perform repairs or cancel the contract and return

Purchaser’s full earnest money deposit. If, after damage, the prop-

erty still meets the intent of MPS, Purchaser has the option of

accepting the property as-is, with a purchase price adjustment at

Seller’s sole discretion, or cancelling the contract and receiving

refund of full earnest money deposit. (2) If sale does not involve

FHA insured financing, Seller will not repair damage but may, at

Seller’s sole discretion, reduce the sale price. Purchaser has option

to cancel the contract and receive refund of full earnest money

deposit. Tender of the earnest money shall release Seller from any

claims arising from this transaction.

F. If this property is being offered with FHA insured mortgage financ-

ing available, Seller's acceptance of this contract constitutes a

commitment to insure, conditioned upon Purchaser being determined

by Seller or Direct Endorsement Underwriter to be an acceptable

borrower and further conditioned upon Seller's authority to insure the

mortgage at the time the sale is closed.

G. Purchaser understands that Seller's listing price is Seller's esti-

mate of current fair market value.

H. No member of or Delegate to Congress or Resident Commissioner

shall be admitted to any share or part of this contract or to any benefit

that may arise therefrom, but this provision shall not be construed to

extend to this contract if made with a corporation for its general

benefit.

I. Purchaser and Seller agree that this contract shall be binding upon

their respective heirs, executors, administrators, successors or as-

signs but is assignable only by written consent of the Seller.

J. If this property was constructed prior to 1978, Seller has inspected for

defective paint surfaces (defined as cracking, scaling, chipping,

peeling or loose paint on all interior and exterior surfaces). Seller’s

inspection found no defective paint surfaces, or if defective paint

surfaces were found, Seller has treated or will treat such defective

surfaces in a manner prescribed by Seller prior to closing. Purchaser

understands and agrees that the Seller’s inspection and/or treat-

ment is not intended to, nor does it guarantee or warrant that all

lead-based paint and all potential lead-based paint hazards have

been eliminated from this property. Purchaser acknowledges that

he/she/it has received a copy of a pamphlet which discusses lead-

based paint hazards and has signed, on or before the date of this

contract, the Lead-Based Paint Addendum to Sales Contact - Prop-

erty Built Before 1978. Purchaser understands that the Lead-Based

Paint Addendum must be signed by all Purchasers and forwarded to

Seller with this contract. Contracts which are not in conformance

with these requirements will not be accepted by Seller.

K. The effective date of this contract is the date it is accepted (signed)

by the Seller.

L. If the amount stated in Item 5 exceeds actual and typical financing

and/or closing costs, such excess shall not be paid by Seller and may

not be used by Purchaser to reduce amount(s) due Seller.

M.Seller’s policies and requirements with regard to earnest money

(including forfeiture thereof), extensions of time in which to close

the sale, back-up offers, and allowable financing and/or closing costs

are detailed in instructions issued to selling brokers.

N. Seller makes no representations or guarantees that the property will,

in the future, be eligible for FHA insured mortgage financing,

regardless of its condition or the repairs which may be made.

O. Warning: Falsifying information on this or any other form of

the Department of Housing and Urban Development is felony.

It is punishable by a fine not to exceed $250,000 and/or a

prison sentence of not more than two years. (18 U.S.C. 1010,

3559; 3571)

P. This contract contains the final and entire agreement between Pur-

chaser and Seller and they shall not be bound by any terms, condi-

tions, statements, or representations, oral or written, not contained in

this contract.

Electronic Filing of HUD-9548 Contract Addendum

3S, 5S, 6S Rev. 1-4-17

Date:

FHA Case Number:

Purchaser(s) and Broker have elected to use the HUD-9548 contract form electronically downloaded and printed for

the submission of their bid ______________________________ (confirmation number) for the following property:

Street Address (include city, state, zip code, county):

By doing so, all parties to this agreement hereby certify, warrant, and represent that in no manner has any of the

information and/or content of the 9548 contract been altered. Furthermore, they certify, warrant, and represent that

this is a true and correct copy of the 9548 contract.

The broker and purchaser(s) agree that (i) they have read and understand their responsibilities, as stated in the

“Conditions of Sale,” which is a part of the HUD-9548 Sales Contract and (ii) no contract or binding agreement

exists unless and until a written HUD-9548 Sales Contract, executed by the U.S. Department of Housing and Urban

Development is returned to the purchaser.

All parties to this agreement knowingly execute this addendum with full understanding that “falsifying information

on this or any other form of the Department of Housing and Urban Development is felony. It is punishable by a fine

not to exceed $250,000 and/or a prison sentence of not more than two years (18 U.S. C. 1010, 3559, 3571).”

Purchaser(s), please INITIAL one of the following:

_____ I/we are NOT a licensed Real Estate Agent/Broker or my Owner, Principal or Spouse is not a licensed Real

Estate Agent/Broker.

_____ I/we ARE a licensed Real Estate Agent/Broker or my Owner, Principal or Spouse is a licensed Real Estate

Agent/Broker. Please also initial one of the following:

_____ I/we are NOT affiliated with any HUD Local Listing Brokers (LLBs).

_____ I/we ARE affiliated with any HUD Local Listing Brokers.

Please note that, for purposes of this certification, purchaser is considered affiliated if their brokerage

shares the same EIN and/or ownership as any HUD LLB, or is an immediate family member or

management official of any LLB.

Purchaser(s) and Selling Agent/Broker must also acknowledge the following: HUD will NOT pay a sales

commission to the Selling Agent/Broker if the Investor Purchaser(s) is also the Selling Agent/Broker and/or

affiliated with the Selling Agent/Broker. Purchaser(s) initial here:________

Selling Agent initial here:________ Selling Broker initial here:________

Please note that, for purposes of this certification, purchaser is considered affiliated if their brokerage or

company shares the same EIN and/or ownership as the Selling Agent/Broker.

Certification of Accuracy: The following parties have reviewed the information above and certify that to the best

of their knowledge it is true and accurate. The following parties also agree to all the terms and provisions hereof.

________________________________________________________ _______________________

Purchaser’s Name (print & sign) Date

________________________________________________________ _______________________

Purchaser’s Name (print & sign) Date

________________________________________________________ _______________________

Selling Agent’s Name (print & sign) Date

________________________________________________________ _______________________

Selling Broker’s Name (print & sign) Date

Conflict of Interest

Certification

FHA Case Number _______________________ Selling Agent ___________________________________

Property Address (include city, state, zip) ____________________________________________________

Purchaser(s) __________________________________________________________________________

Purchaser certifies that he/she IS ______ or IS NOT_______ an Employee, Immediate Family Member,

Management Official, and/or Affiliated Entity of any of the following person(s)/entities:

1. BLB Resources, Inc.

2. Other HUD Asset Managers (AMs)

3. Appraiser for any HUD AM

4. HUD Local Listing Broker (LLB), including

but not limited to branch offices with the

same EIN and/or ownership

5. HUD Field Service Manager (FSM)

6. Buyer’s Selected Closing Agent

7. HUD (except for employees who have no

involvement in the management and oversight of

HUD-owned properties or HUD’s marketing and

management vendors, or a person related by

blood, law, or marriage to such a HUD

employee, IF employee submits an original or

fax copy of form HUD-50001 “HUD

Employee/Relative Home Purchaser

Certification” signed by the Director of the Office

of Single Family Asset Management)

For the purposes of this certification, the following terms are defined:

Immediate Family Members include any person, whether by blood, law, or marriage, who is: (1) a

spouse, domestic partner, child, sibling, or parent of a Management Official of any of the above entities;

or (2) the spouse or domestic partner of children, siblings or parents of the Management Official.

A Management Official is the owner, partner, principal, shareholder, director, officer, employee, agent,

representative, or any individual who directs the daily operations of an entity.

Affiliated Entity is any entity: (1) controlling, controlled by, or under common control with one of the

above entities; or (2) whose Management Officials are an immediate family member of a Management

Official of one of the above entities.

If Purchaser IS an Employee, Immediate Family Member, Management Official, and/or Affiliated Entity of

one of the above person(s)/entities, complete the following fields:

__________________________________________________________________________________

Relationship (e.g. parent, employee, Affiliated Entity, etc.)

__________________________________________________________________________________

Person(s)/Entity with whom Purchaser is related/affiliated (e.g. BLB Resources, Inc. employee;

appraiser for a HUD AM, etc.)

Purchaser, Selling Agent, and Selling Broker acknowledge that purchase of a HUD home by an Employee,

Immediate Family Member, Management Official and/or Affiliated Entity of one of the above

person(s)/entities may be deemed a conflict of interest, and may result in one or more of the following

penalties: 1) cancellation of the purchaser’s contract, 2) forfeiture of the purchaser’s earnest money

deposit, 3) removal of the LLB from the LLB network, and/or 4) loss of Selling Broker’s bidding privileges.

_________________________________________________ ____________________

Purchaser Signature (Required) Date

_________________________________________________ ____________________

Purchaser Signature (Required) Date

_________________________________________________ ____________________

Selling Agent Signature (Required) Date

_________________________________________________ ____________________

Selling Broker Signature (Required) Date

Radon Gas and Mold Notice U.S. Department of Housing

and Release Agreement and Urban Development

Office of Housing

Federal Housing Commissioner

Property Case #:

Property address:

PURCHASERS ARE HEREBY NOTIFIED AND UNDERSTAND THAT

RADON GAS AND SOME MOLDS HAVE THE POTENTIAL TO CAUSE

SERIOUS HEALTH PROBLEMS.

Purchaser acknowledges and accepts that the HUD-owned property described above (the “Property”) is being

offered for sale “AS IS” with no representations as to the condition of the Property. The Secretary of the U.S.

Department of Housing and Urban Development, his/her officers, employees, agents, successors and assigns (the

“Seller”) and [insert name of M & M Contractor], an independent management and marketing contractor (“M & M

Contractor”) to the Seller, have no knowledge of radon or mold in, on, or around the Property other than what may

have already been described on the web site of the Seller or M & M Contractor or otherwise made available to

Purchaser by the Seller or M & M Contractor.

Radon is an invisible and odorless gaseous radioactive element. Mold is a general term for visible growth of fungus,

whether it is visible directly or is visible when barriers, such as building components (for example, walls) or

furnishings (for example, carpets), are removed.

Purchaser represents and warrants that Purchaser has not relied on the accuracy or completeness of any

representations that have been made by the Seller and/or M & M Contractor as to the presence of radon or mold and

that the Purchaser has not relied on the Seller’s or M & M Contractor’s failure to provide information regarding the

presence or effects of any radon or mold found on the Property.

Real Estate Brokers and Agents are not generally qualified to advise purchasers on radon or mold treatment or its

health and safety risks. PURCHASERS ARE ENCOURAGED TO OBTAIN THE SERVICES OF A

QUALIFIED AND EXPERIENCED PROFESSIONAL TO CONDUCT INSPECTIONS AND TESTS

REGARDING RADON AND MOLD PRIOR TO CLOSING. Purchasers are hereby notified and agree that they

are solely responsible for any required remediation and/or resulting damages, including, but not limited to, any

effects on health, due to radon or mold in, on or around the property.

In consideration of the sale of the Property to the undersigned Purchaser, Purchaser does hereby release, indemnify,

hold harmless and forever discharge the Seller, as owner of the Property and separately, M & M Contractor, as the

independent contractor responsible for maintaining and marketing the Property, and its officers, employees, agents,

successors and assigns, from any and all claims, liabilities, or causes of action of any kind that the Purchaser may

now have or at any time in the future may have against the Seller and/or M & M Contractor resulting from the

presence of radon or mold in, on or around the Property.

Purchaser has been given the opportunity to review this Release Agreement with Purchaser’s attorney or other

representatives of Purchaser’s choosing, and hereby acknowledges reading and understanding this Release.

Purchaser also understands that the promises, representations and warranties made by Purchaser in this Release are a

material inducement for Seller entering into the contract to sell the Property to Purchaser.

Dated this ____ day of ____________, 20__.

Purchaser’s Signature Purchaser’s Signature

Purchaser’s Printed Name Purchaser’s Printed Name

Form HUD-9548-E (6/2004)

HUD Forfeiture and Extension Policy – AK, OR, WA Only

AK, OR, WA Revised 9-28-18 Page 1 of 3

FHA Case Number: ________________

Property Address: __________________________________________________________________

All HUD Property Disposition sales of HUD-acquired properties are to close within the following timeframes of

acceptance of a HUD-9548 (1/99) Sales Contract offer to purchase:

• 30 days for Investor purchasers regardless of financing type, or for Cash/Hard Money purchasers

• 45 days for Owner Occupants using 203(b), 203(b) repair, or conventional financing

• 60 days for Owner Occupants using 203(k) financing

Forfeiture of Earnest Money Deposits Purchaser(s) ________ Selling Agent: ______

The failure by a Purchaser to close on the sale of property within the allowable period, including any extensions

approved by HUD, may result in the forfeiture of the entire earnest money deposit, except where special

circumstances exist. These situations will need to be documented and granted by HUD.

Investor Purchasers

1. Please note the 15-day inspection period applies to owner-occupant purchasers only. Investors may inspect the

property but will forfeit the entire earnest money deposit regardless of the inspection results.

2. Uninsured Sales – The purchaser will forfeit the entire earnest money deposit for failure to close within the

allotted time, regardless of the reason.

3. Insured Sales – The purchaser will forfeit fifty percent (50%) of the earnest money deposit for failure to close if

the purchaser is determine by HUD or Direct Endorsement underwriter to be an unacceptable buyer. The

purchaser will forfeit the entire earnest money deposit if sale fails to close for any other reason.

Owner-Occupant Purchasers

The purchaser will receive a refund of the entire earnest money deposit under the following circumstances:

1. There has been a death in the immediate family (contract holder, spouse, or children living in the same

household).

2. There has been a recent serious illness in the immediate family that has resulted in significant medical expenses

or substantial loss of income, thus adversely affecting the purchaser's financial ability to close the sale.

3. There has been a loss of job by one of the primary breadwinners, or substantial loss of income through no fault

of the purchaser.

4. For Insured sales, HUD (or a Direct Endorsement underwriter using HUD guidelines) determines that the

purchaser is not an acceptable borrower.

5. For Uninsured sales, the purchaser was pre-approved for mortgage financing in an appropriate amount by a

recognized mortgage lender and, despite good faith efforts, is unable to obtain mortgage financing. "Pre-

approved" means a commitment has been obtained from a recognized mortgage lender for mortgage financing

in a specified dollar amount sufficient to purchase the property.

6. For other good cause, as determined by HUD.

On an uninsured sale, the purchaser will forfeit fifty percent of the earnest money deposit in those instances where,

despite good faith efforts by the purchaser, there is an inability to obtain a mortgage loan from a recognized

mortgage lender.

On either type of sale, the purchaser will forfeit the entire earnest money deposit in those instances where no

supporting documentation is submitted, where the documentation fails to provide an acceptable cause for the buyer's

failure to close, or where documentation is not provided within a reasonable time following contract cancellation.

Earnest Money Deposit (EMD) Requirements

For properties with bids accepted prior to 9-28-18, Earnest Money Deposit requirements are $500 for properties with

a purchase price of $50,000 or less and $1000 for properties with a purchase price of $50,001 or more. For vacant

lots the EMD is fifty percent (50%) of the list price. For GNND properties, the EMD is 1% of list price (not less

than $500 and not to exceed $2,000).

HUD Forfeiture and Extension Policy – AK, OR, WA Only

AK, OR, WA Revised 9-28-18 Page 2 of 3

For properties with bids accepted on/after 9-28-18, Earnest Money Deposit requirements are $500 for properties

with a purchase price of $50,000 or less; $1000 for properties with a purchase price greater than $50,001but less

than $250,000; and $2,000 for properties with a sales price equal to or greater than $250,000 For vacant lots the

EMD is fifty percent (50%) of the list price. For GNND properties, the EMD is 1% of list price (not less than $500

and not to exceed $2,000).

Earnest money deposits must be in the form of a cashier’s check or U.S. Postal Money Order made payable to

BOTH “Buyer Selected Escrow Company or Buyer(s) name.” A COPY of the EMD check is to be submitted

with the completed sales package to BLB Resources within two (2) business days of bid acceptance, and the

ORIGINAL EMD must be submitted to the Local Listing Broker (LLB) assigned to the property within two (2)

business days of bid acceptance. Please note that no Money Gram or Western Union money orders will be accepted.

PLEASE NOTE: If the transaction is cancelled prior to ratification of sales contract, the earnest money will be

returned to the Real Estate Broker via certified mail unless otherwise noted below. BLB Resources, Inc. will NOT

be held liable for any lost or misplaced checks.

US Certified Mail UPS Airborne Fed-Ex

Overnight Account Number:__________________________________________________

Extension Request Requirements Purchaser(s) ________ Selling Agent: ______

If scheduled closing dates cannot be met, purchasers may request extensions of the closing time. BLB Resources,

Inc. may grant extensions in intervals of fifteen (15) days upon written request from the purchaser. Extensions of

time to close the sale are entirely within Seller’s discretion.

If granted, the following conditions apply:

• A written request for extensions must be received by BLB Resources, Inc. no later than five (5) calendar days

before the expiration of the sales contract.

• Documentation submitted with the extension request must state the cause of delay and must demonstrate

evidence that a closing is imminent. Contracts that exceed the expiration date are subject to cancellation.

• Extension fees are non-refundable if the closing does not occur.

• At closing, unused extension fees will be prorated to the Purchaser and refunded by escrow.

• The granting of one extension shall not obligate the Seller to approve additional extensions, and the Seller shall

declare a Default for the Purchasers’ failure to close the sale upon the expiration of the original closing period

or upon the expiration of the extension.

• Extensions will be for a period of fifteen (15) calendar days. Fees will be based on the Contract Sales Price of

the property:

o $10 per day if sales price is $24,999 or less

o $15 per day if sales price is more than $25,000, but no more than $49,999

o $25 per day if sales price is $50,000 or more

• Extension requests must be submitted to BLB Resources at the following address. Enclosed fees must be in the

form of a certified check or money order.

BLB Resources, Inc.

Attn: Accounting/Lockbox

16845 Von Karman Ave., Suite 100

Irvine, CA 92606

Allowable Closing Costs-Line 5 of Sales Contract (HUD 9548-1/99)

Upon closing of a HUD-owned single-family property, the Department will allow to be deducted from its proceeds,

purchaser financing and closing costs considered to be reasonable and customary in the jurisdiction where the

HUD Forfeiture and Extension Policy – AK, OR, WA Only

AK, OR, WA Revised 9-28-18 Page 3 of 3

property is located. Form HUD-9548 (Sales Contract-Property Disposition Program), shall be used to reflect the

total dollar amount HUD is expected to pay towards a purchaser's financing and closing costs. However, in no event

may the costs exceed three percent (3%) of the property's gross purchase price. If the total closing costs reflected on

the HUD 1 settlement statement are less than the amount indicated on the sales contract, HUD will reimburse only

the actual costs charged and will not credit the purchaser with any difference either in cash or through a purchase

price. Within the three percent (3%) allowance, HUD will reimburse loan origination fees up to one percent (1%) of

the mortgage. However, on an FHA 203(k) rehabilitation mortgage, HUD will reimburse one and a half percent

(1.5%) of the mortgage.

Seller Disclosure

Seller makes no representations or warranties concerning the condition of the property, including but not limited to

mechanical systems, dry basement, foundation, structural, or compliance with code, zoning or building requirements

and will make no repairs to the property after execution of this contract. Purchaser understands that regardless of

whether the property is being financed with an FHA-insured mortgage, Seller does not guarantee or warrant that the

property is free of visible or hidden structural defects, termite damage, lead-based paint, mold, or any other

condition that may render the property uninhabitable or otherwise unusable. Purchaser acknowledges responsibility

for taking such action as it believes necessary to satisfy itself that the property is in a condition acceptable to it, of

laws, regulations and ordinances affecting the property and agrees to accept the property in the condition existing on

the date of this contract. Seller disclosure concerning HOA dues, Mello Roos taxes, assessments, or any tax

concerning HUD homes is based on available information but is not deemed complete or accurate. It is the

responsibility of the purchaser to obtain all information concerning these issues.

Walk-Thru Inspection

All Purchasers are strongly encouraged to conduct a walk through inspection PRIOR to the close of escrow. If a

Purchaser discovers a property condition that did not exist at the time of sale they must immediately notify HUD’s

property manager, BLB Resources, Inc. of the damage. Reporting of the damage does not guarantee the correction

of the problem that was discovered. Each case will be looked at, and a determination will be made as to whether the

damage will be repaired or proper credits given at the close of escrow if those repairs or credits are deemed to be in

the best interest of the Dept. of HUD. The purchaser assumes full responsibility for the property and its condition on

the date of close of escrow. The Department assumes no responsibility and will make no settlement, for damages

reported to HUD after the close of escrow. (See item # 13.E of HUD Sales Contract).

Offer Exceeding Appraised Value Purchaser(s) ________ Selling Agent: ______

I/we understand that if our offer exceeds the FHA Appraised AS-IS value and the property is being purchased with

FHA Financing, I/we will be responsible for the difference in cash.

Buyer Certification

I/we certify that I/we have read and understand all three pages of this addendum and declare that I/we have been

interviewed by a HUD approved Lender who has completed a loan application, verified employment, and obtained a

full credit report.

I/we acknowledge this policy and by signing below I/we understand I/we will forfeit our earnest money deposit if

we enter into this agreement without properly completing this qualification process.

Signatures:

_______________________________________________________________________

(Purchaser) (Date)

________________________________________________________________________

(Purchaser) (Date)

________________________________________________________________________

(Selling Agent) (Date)

form HUD-92564-CN (12/03)

US Department of Housing

and Urban Development (HUD)

Federal Housing Administration

OMB Approval No: 2502-0538

(exp. 06/30/2006)

For Your Protection: Get a Home Inspection

Name of Buyer (s) _________________________________________________________________________________________________________

Property Address _________________________________________________________________________________________________________

_________________________________________________________________________________________________________

Why a Buyer Needs a Home Inspection

A home inspection gives the buyer more detailed information

about the overall condition of the home prior to purchase. In a

home inspection, a qualified inspector takes an in-depth,

unbiased look at your potential new home to:

• evaluate the physical condition: structure, construction, and

mechanical systems

• identify items that need to be repaired or replaced

• estimate the remaining useful life of the major systems,

equipment, structure, and finishes

Appraisals are Different from Home

Inspections

An appraisal is different from a home inspection. Appraisals

are for lenders; home inspections are for buyers. An

appraisal is required for three reasons:

• to estimate the market value of a house

• to make sure that the house meets FHA minimum property

standards/requirements

• to make sure that the house is marketable

FHA Does Not Guarantee the Value or

Condition of your Potential New Home

If you find problems with your new home after closing,

FHA can not give or lend you money for repairs, and FHA

can not buy the home back from you.

Radon Gas Testing

The United States Environmental Protection Agency and

the Surgeon General of the United States have

recommended that all houses should be tested for radon.

For more information on radon testing, call the National

Radon Information Line at 1-800-SOS-Radon or

1-800-767-7236. As with a home inspection, if you

decide to test for radon, you may do so before signing

your contract, or you may do so after signing the contract

as long as your contract states the sale of the home

depends on your satisfaction with the results of the radon

test.

Be an Informed Buyer

It is your responsibility to be an informed buyer. Be sure

that what you buy is satisfactory in every respect. You

have the right to carefully examine your potential new

home with a qualified home inspector. You may arrange

to do so before signing your contract, or may do so after

signing the contract as long as your contract states that

the sale of the home depends on the inspection.

I/we understand the importance of getting an independent home inspection. I/we have considered this before signing a

contract with the seller for a home. Furthermore, I/we have carefully read this notice and fully understand that FHA

will not perform a home inspection nor guarantee the price or condition of the property.

______ I/We choose to have a home inspection performed.

I/We choose not to have a home inspection performed.

X X

Signature & Date Signature & Date

This section for BLB Resources, Inc. use only

BLB Resources Processed by: ________________________ Date:______________

Approved Denied

Alaska

Additional LBP Information Receipt Addendum

This form is required for properties built before 1978.

Completed form must be submitted with original contract package upon bid acceptance. Form may also be

required after contract ratification if additional LBP information becomes available. If form is submitted separately

from original contract package, please fax to (949) 379-2896 or email to

6Saddenda@blbresources.com.

FHA Case Number __________________________________

Property Address (include city, state, zip)

______________________________________________________________________________________________________________

Purchaser(s) ______________________________________________________________________________

Selling Broker _____________________________________________________________________________

Selling Agent __________________________________ Agent Phone ________________________________

BLB Resources has provided all available LBP information on this property to the Selling Broker. Purchaser(s)

must initial to indicate receipt of this information, which includes the following (as applicable):

_____ LBP Disclosure Form HUD 9545-Y Seller has records or reports pertaining to LBP and/or LBP hazards

_____ LBP Disclosure Form HUD 9545-Z Seller has no records or reports pertaining to LBP and/or LBP hazards

_____ Property Condition Report (PCR), full copies of all of LBP inspection reports, risk assessment reports,

and/or other reports and records pertaining to LBP and/or LBP hazards

_____ Copy of the EPA-approved pamphlet, “Protect Your Family from Lead in Your Home”

Additional information on the Lead Disclosure Rule may be obtained from the National Lead Information Center

by calling 1-800-424-LEAD (5323) or by visiting EPA’s website at

http://www2.epa.gov/lead.

Acknowledgement and Agreement

By signing below, Selling Broker acknowledges that BLB Resources has provided the LBP information on this

property to Selling Broker, and that Selling Broker has provided this information to the purchaser(s).

By signing below, Purchaser(s) acknowledge that Selling Broker has provided this information to purchaser(s) and

that Purchaser(s) have reviewed the available LBP information.

________________________________________________________ __________________

Purchaser Signature (Required) Date

________________________________________________________ __________________

Purchaser Signature (Required) Date

________________________________________________________ __________________

Selling Broker Signature (Required) Date

This section for BLB Resources, Inc. use only

BLB Resources Processed by: ________________________ Date:______________

Approved Denied

Alaska

Buyer Select Closing Agent Addendum

This form is required in Alaska only.

All contracts ratified on or after June 9, 2013 will be subject to the “Buyer Select” closing agent program. The

buyer will choose their own escrow company. HUD will no longer pay for either the buyer side or seller side of the

escrow fees, which will be a buyer expense. Please note Lines 3 and 9 of the HUD-9548 Sales Contract must be

filled in with the closing agent listed on this form.

Earnest money deposit (EMD) checks (cashier’s check or postal money order only) must be made payable to

“buyer selected escrow company or Purchaser(s) name.” Original EMD checks must be delivered to the Local

Listing Broker (LLB) assigned to the property within two (2) business days of bid acceptance, and a copy of the

EMD must be included with the original contract package submitted to BLB Resources. Upon contract execution

by BLB Resources, the LLB will be instructed to deliver the EMD to the closing agent selected by the buyer.

Completed form must be submitted with original contract package upon bid acceptance. If form is submitted

separately from original contract package, please fax to (949) 379-2896 or email to

AKBSP@blbresources.com.

I / We agree the EMD is being held undeposited by the LLB and within 48 hours of a ratified sales contract, EMD

will be delivered to the closing agent/escrow company listed on this form. I / We authorize BLB Resources to

release a copy of the sales contract and addenda for the following property to the closing agent/escrow company

listed below.

Property Information FHA Case Number __________________________________

Property Address (include city, state, zip)

______________________________________________________________________________________________________________

Purchaser(s) ______________________________________________________________________________

Selling Agent __________________________________ Agent Phone ________________________________

Closing Agent / Escrow Company Information

Company Name ___________________________________________________________________________

Mailing Address (include city, state, zip)

______________________________________________________________________________________________________________

Escrow Officer ________________________________ Phone ______________________________________

Email Address _____________________________________________________________________________

Has this company ever closed a transaction on a HUD-owned property? Yes No

If yes, please enter Title ID # _____________________

If no, please attach copy of escrow company’s state license and insurance.

________________________________________________________ __________________

Purchaser Signature (Required) Date

________________________________________________________ __________________

Purchaser Signature (Required) Date

________________________________________________________ __________________

Selling Agent Signature (Required) Date

Page 1 of 4

U.S. Department of Housing and Urban Development (HUD)

Closing Instructions and Certification

The following are general settlement instructions and do not provide all specific instructions for sales

under special programs.

FHA Case Number: ______________________ Date of HUD’s Ownership: _________________________

Property Address: _______________________________________________________________________

Buyer(s) Name: _________________________________________________________________________

Amount of Discount Buyer Received: ___________%

Amount of Rental Money Due: $________________ Amount of Utility Payment Due: $_______________

As settlement/title company/agent, you must adhere to the following closing instructions to close this

sale between the US Department of Housing and Urban Development (HUD) and the buyer identified on

the attached executed sales contract. If you are unable to perform these tasks within the required time

frame (as defined on Line 9 of the HUD Form 9548), please notify the buyer’s Real Estate agent

immediately so the buyer can select a different settlement/ title company.

As a settlement/title company, you must meet all applicable local and state standards as well as those

required by HUD.

You must close this sale for only the buyer(s) identified on the executed sales contract, or

amendment/addendum which has been executed by the buyers and HUD’s delegated Asset Manager.

EARNEST MONEY: The Asset Manager has____has not_____included the earnest money with the fully

executed sales contract.

REAL ESTATE TAXES: Real estate taxes for the current year shall be pro-rated to the date of closing. HUD

will only pay for taxes currently due and will not pay or reimburse any party after closing if real estate

taxes are reassessed by local government. The last payment was made on _________ in the amount of

$________, which covers the following period of time: ___________ through___________.

HOMEOWNER ASSOCATION (HOA) FEES/DUES: HUD will pay for HOA fees/ dues pro-rated from the date

of HUD’s ownership through the date of closing. HUD will only pay for HOA fees/dues that are the

responsibility of HUD during its ownership. The last payment was made on _________ in the amount of

$________, which covers the following period of time: ___________ through___________.

RENTAL MONIES: You shall verify with the Asset Manager that all rental monies due HUD have been

collected outside settlement if the buyer is an approved HUD tenant. If any due amounts have not been

paid, you shall ensure such payment is made at time of closing.

SPECIAL PROGRAMS: HUD has a number of special programs, including the Good Neighbor Next Door

(GNND) Sales program, in which the buyer receives a discount off the purchase price, as indicated on the

executed sales contract. Such discounts are to be reflected of Line 507 of Form HUD-1, Settlement

Statement or Section L, Other Credits of the Closing Disclosure.

Further, some sales such as those under GNND require a second Note and Deed of Trust/ Mortgage

and/or a Land Use Restriction Addendum. If applicable to this sale, special instructions for the completion

of those documents are attached or will be supplied by the Asset Manager.

Page 2 of 4

For properties covered by an Asset Control Area (ACA) Agreement, the Asset Manager, will provide

additional closing instructions.

CLOSING COSTS: HUD will pay up to the amount on Line 5 of the executed sales contract, or up to 3% of

the sales price, whichever is less, towards reasonable and customary closing costs and the amount shall

be annotated on the HUD 1/Closing Disclosure in accordance with RESPA. Any unused portion will be

credited to HUD’s proceeds. (Customary Loan Origination Fee is up to 1% of the mortgage; 1.5% on a

203(k) loan)

Buyer Select Closing Fee: The purchaser is primarily responsible for any and all closing fees up to the

maximum allowed per State Law and Regulatory requirements. The buyer may apply amounts listed on

Line 5 of the sales contract for payment of closing fees.

Recording fees for the Special Warranty/Grant Deeds transferring ownership from HUD to the buyer as

stated on the executed sales contract, for the second Note/ Deed of Trust, if required for special HUD

programs, and for special addendums, if required, such as Land Use Restriction Addendum, are the

expense of the buyer. This expense may be covered from funds on Line 5 of the executed sales contract. If

the buyer did not request funds on line 5, the amount to cover the cost of recording shall be collected

from the buyer at closing.

HUD-1/CLOSING DISCLOSURE PREPARATION: You must accurately prepare the Preliminary HUD-1 or

Settlement Statement/Closing Disclosure and provide it to Asset Manager at least 5 business days in

advance of the scheduled closing date for their review, approval, and return prior to closing. This can be

accomplished electronically.

DEED PREPARATION: You must prepare a Special Warranty or Grant Deed (where applicable) and provide

it to the Asset Manager at least five (5) business days prior to the scheduled closing. The Deed can be sent

to Asset Manager electronically. Asset Manager will execute, notarize, and return the original Deed via

overnight delivery. Include a return address which is accessible by their overnight mail carrier.

EXTENSIONS: If an extension is required, the purchaser’s real estate broker will submit the required

closing extension request form, along with the extension fee, to the Asset Manager prior to expiration of

the sales contract. The Asset Manager will provide you with an electronic notification of the approval and

copy of the executed extension agreement which will provide you with the new contract expiration date.

The Asset Manager will also provide the amount of the extension fee that was collected. In no case shall a

closing take place on an expired contract.

WIRE PROCEEDS: You must wire proceeds to the US Treasury via FEDWIRE the day of but not later than

the next available banking day after closing, ensuring the amount matches that of the executed HUD-

1/Closing Disclosure. The Asset manager will provide specific wiring instructions, including the form to be

used.

DEED RECORDING: You must ensure the deed is delivered for recording to the appropriate county

recorder’s office no later than one (1) business day after closing.

NOTIFICATION OF CLOSING: You must notify the Asset Manager at

6SRecordings@blbresources.com via

email on the day the closing has or has not occurred.

CLOSING PACKAGE: You must deliver a complete closing package to Asset Manager not more than three

(3) business days after the closing is completed. The post closing package shall include:

Page 3 of 4

• Final HUD-1/Closing Disclosure and the Certification;

• Copy of the wire of proceeds transfer confirmation;

• Evidence that the deed was delivered for recording;

• Copy of any invoice HUD paid at closing;

• Copy of disbursement log, accounting for all incoming and outgoing funds related to this

transaction; and,

• For special program sales: Original Note and copy of GNND or ACA Deed of Trust or Mortgage,

with evidence it was delivered for recording.

Submit closing package to:

BLB Resources, Inc.

16845 Von Karman Avenue, Suite 100

Irvine, CA 92606

6SRecordings@blbresources.com

CANCELED SALE: If the sale is canceled and is not immediately rescheduled, the deed must be returned to

Asset Manager within two (2) business days of the original scheduled closing date. If the sale does not

close on the scheduled date, notify Asset Manager immediately via email

(6SRecordings@blbresources.com)

as to the date the closing is rescheduled or if it has been canceled. If the sale has not been rescheduled or

is canceled, the Closing Company shall scan the original of the signed deed, marked VOID in large letters

across the front, and electronically deliver it to Asset Manager no later than the second business day after

a closing is cancelled. The original document will then be mailed to the Asset Manager that same day,

along with the earnest money deposit and extension fees that are in your possession.

FORFEITED EARNEST MONEY: Comply with the earnest money forfeiture policy that was signed by the

buyer(s) and is part of the executed sales contract package. Earnest money forfeitures are to be sent to

the Asset Manager, payable to HUD, within 4 business days of the earnest money disposition issued by

the Asset Manager or expiration of the contract whichever shall occur first.

Standards for Acceptable Closing Companies.

Buyer Selected Closing Companies (BSCC) must certify that they meet the following standards:

1. A BSCC must be an attorney, title company, or escrow company. In addition, any BSCC must meet all

requirements of state and local laws (e.g., if the property is in a state that bans attorneys from

conducting a closing, an attorney may not be used as a BSCC).

a) Use of attorneys - An attorney or law firm may act as a BSCC, provided that they are duly licensed

to practice law in the state where the property is located and state law allows an attorney to

facilitate Real Estate closings.

b) Use of title companies - A title company may act as a BSCC, provided that they are duly licensed

to do business in the state where the property is located, and are regulated by the State

Insurance Commission, or similar regulatory agency recognized by the State.

c) Use of Escrow Company - An escrow company may act as a BSCC, provided that they are duly

licensed to do business in the State where the property is located and meet all state legal and

regulatory requirements as a recognized and registered escrow company.

Page 4 of 4

2. Insurance and Closing Protection Letter requirement - Any BSCC must be covered by Errors and

Omissions Insurance of at least $1,000,000. Title companies shall provide a Closing Protection Letter

(CPL) to insure against any improper handling of HUD's proceeds or deed.

3. A BSCC must complete a one-time registration to receive a HUD issued Settlement Agent Identifier

number.

4. Conflict of Interest - A BSCC who has, or whose spouse, children or business associates have, a

financial interest in the property shall not be involved in the closing process. Financial interest

includes having an equity, creditor, lender, or debtor interest in any corporation, trust, or partnership

with a financial interest in the property.

5. Debarment or suspension - No attorney, Title Company, Escrow Company, or BSCC, currently

debarred, suspended, or otherwise excluded by Administrative Action from participating in Federal

programs, may participate in any aspect of the closing or title clearance process.

6. Non-Discrimination - No BSCC, employee, or person or entity otherwise authorized to act for a BSCC

agent may act in violation of Title VIII of the Civil Rights Act of 1968 (the "Fair Housing Act" Title VIII or

Public Law 90-284) or Executive Order 11063. BSCC’s, their employees, and any person or entity

otherwise authorized to act on behalf of a BSCC shall (1) refrain from discrimination on the basis of

race, color, creed, religion, sex, national origin, age or handicap; (2) instruct their staffs in the policies

of nondiscrimination and all applicable local, State, and Federal fair housing and non-discrimination

laws.

7. Failure to Abide by HUD’s Closing Instruction - HUD reserves the right to sanction or remove any

BSCC that does not abide by HUD’s Closing Instruction.

Warning: Falsifying information on this or any other form of the Department of Housing and

Urban Development is felony. It is punishable by a fine not to exceed $250,000 and/or a prison

sentence of not more than two years. (18 U.S.C. 1010, 3559; 3571)

You must certify below that you meet the above standards; you understand and will comply with these

general instructions and requirements. Subsequent instructions may be provided in writing on a case by

case basis by HUD through its Asset Manager.

Acknowledged ____________________________________ Date _______________________________

Printed Name ____________________________________ Telephone # _________________________

Principal Title _____________________________________ Email ______________________________

State License #____________________________________ HUD Identification # __________________

Additional Escrow Instructions Rev. 1-7-16 Previous editions are obsolete. Page 1 of 4

ATTENTION ESCROW / Additional Escrow Instructions

We, the undersigned, hand you a copy of the U. S. Department of Housing and Urban Development

Sales Contract (Property Disposition Program) and Offer of Contract Acceptance and Addendums dated

__________, and Buyer and Seller agree to be bound by the terms and conditions contained therein.

All pages of Ratified contract included will supersede escrow instruction directions.

Please be aware that HUD is exempt from providing the following: the buyer is responsible to

perform their own research and inspections, as they deem necessary and satisfy themselves as to

such

HUD will not pay for the following items: (Buyer’s fees)

1. Inspections and or clearance: Wood destroying Organisms, Lead Based Paint (LBP) on

conventional, cash, VA, Rural Development (RD), and USDA files

2. Natural Hazard Report (NHR)

3. Notary

4. Escrow Pad

5. County Tax Stamp

6. Home Warranty/Protection Plan

7. Owner’s Title Insurance Policy

8. Lender’s Title Insurance Policy

9. Documentary Transfer Tax

10. Escrow Fee – Both Buyer’s and Seller’s

AS A MATTER OF RECORD

As a matter of record only, with which Escrow Holder is not to be concerned in any manner whatsoever,

it is understood by and between the undersigned Buyer and Seller as follows:

These instructions are not intended to amend, supersede or modify that certain Purchase Agreement

referenced above, executed by Buyer and Seller, as to any matter not specifically set forth in these

supplemental escrow instructions. As stated in the purchase agreement, Buyer is aware that Seller

acquired the subject property through foreclosure proceedings, and that the property is being sold in its

“as is” and “where is” condition, with no warranties, express or implied.

SELLER REPRESENTATIONS:

Seller is duly organized and validly existing, and has all requisite power and authority to enter into and

perform under the terms of these Escrow Instructions. Each person executing these instructions on

behalf of Seller warrants that he/she has all requisite authority to do so. You are hereby authorized and

instructed to comply with closing instructions deposited herein by Seller’s asset manager on Seller’s

behalf, if any.

REPAIR ESCROWS ONLY: CERTIFCATION

• THIS REPAIR ONLY APPLIES IF THE BUYER IS OBTAINING FHA FINANCING.

• Pursuant to Line 4 of the HUD Sales Contract, the mortgage being obtained through this escrow

involves a repair escrow amounting to $ ___________.

• THE REPAIR ESCROW AMOUNT IS TO BE FINANCED IN THE FHA LOAN AND WILL

NOT BE TAKEN FROM HUD PROCEEDS AT CLOSING.

Additional Escrow Instructions Rev. 1-7-16 Previous editions are obsolete. Page 2 of 4

• Provided that the fee due to lender (up to $200.00) for the processing of the repair escrow is

reflected on the Lender’s Instructions, escrow holder is authorized and instructed, at the close of

escrow, to debit Seller’s account with said amount up to $200.00, if applicable.

• All costs will be paid in full compliance with the guidelines provided in HUD Notice H 2003-02.

• BLB Resources will only list Minimum Property Requirements (MPR) items as identified in

HUD’s appraisal on the addendum for the repair escrow. Cosmetic repairs or other items to bring

the property to average condition will not be included. However, please note, any repairs listed

are an estimate. Seller does not guarantee or warrant that the property is free of visible or hidden

structural defects, termite damage, lead-based paint, or any other condition that may render the

property uninhabitable or otherwise unusable. A final list of repairs, if applicable, will be

determined by the lender and buyer’s appraisal.

SELLER PAID CLOSING COSTS (if line 5 is applicable):

If line 5 is not applicable, the buyer will be solely responsible for all fees and charges.

The Seller will pay up to $________, (Line 5 of the Sales Contract) towards allowable purchaser

closing costs, not to exceed the actual cost incurred. The following is a list of those HUD Allowable

Closing Costs that may be credited towards Line 5 of the Sales Contract:

If the closing costs are less than 3%, or amount requested on Line 5 of ratified contract, HUD will

only pay the actual costs charged, and will not credit the purchaser any difference in cash or a

reduced purchase price.

ALL ITEMS MUST BE REASONABLE AND CUSTOMARY CHARGES IN THE JURISDICTION

TO WHERE THE PROPERTY IS LOCATED AND WILL NEED TO BE APPROVED BY HUD’S

ASSET MANAGER TO DETERMINE IF THEY ARE “REASONABLE AND CUSTOMARY

CHARGES.”

• Appraisal Fee

• Credit Report (up to $20.00)

• Flood Certification (property must be offered with FHA insurable and located on a Flood Plain)

• Home Inspection (includes testing for lead based paint, radon, mold etc.)

• Home Warranty (up to $300.00)

• Loan Discount Points (up to 1% of the loan amount to buy down the rate, with certification

from the lender). MUST SUBMIT A LETTER TO HUD ON COMPANY LETTERHEAD

WITH DETAILED INFORMATION OF THE BUYDOWN TO BE APPROVED

• Loan Origination Fee (up to 1% will be paid on Conventional/FHA loan; up to 1.5% will be paid

on FHA 203(k) loans)

o NOTE: Loan Discount and Loan Origination is an either/or, both cannot be used

• Prepaid and Escrow Items for Owner Occupant Purchasers Only

• Loan Fees which are reasonable and customary

• Owners Title Insurance Policy

• Lenders Title Insurance Policy

• State, City or County Transfer Taxes on Grant Deed, i.e., amounts charged as a Percentage of

value

Additional Escrow Instructions Rev. 1-7-16 Previous editions are obsolete. Page 3 of 4

o If, under state or local law, the recording fees and/or transfer charges or taxes are

imposed on the Seller (i.e. HUD), then HUD is immune from paying these charges and

will not pay them.

o If, however, the charges are imposed on the purchaser, HUD may pay these charges on

behalf of the purchaser if funds remain in Line 5.

o NOTE: Seller will not pay fees for recording any Mortgage/Riders, Interspousal Deeds,

or Surveys

The following items are automatically paid for by the Seller (HUD):

• Broker’s Sale Commission as stated on Line 6a, and selling bonus (if offered)

• Proration of property taxes and any assessments such as HOA fees, utility bills

• Recording fees: HUD will automatically pay recording fees and charges for the deed (i.e.,

nominal amount charged per page for recordation)

• Broker’s Sale Commission for Broad Listing Broker as stated on Line 6b of Sales Contract

• Condominium or HOA Transfer Fee and Document fee

CITY INSPECTION REPORT TO BE OBTAINED OUTSIDE OF ESCROW:

In the event city ordinances require a Residential Inspection Report, Buyer shall, outside of this escrow,

obtain same, pay any and all costs associated with same, and also take full responsibility for repairs

and/or costs associated with city compliance issues. Escrow Holder is not to be concerned therewith in

any manner whatsoever, and Buyer hereby indemnifies, defends and holds Escrow and its officers

and/or employees harmless from any loss which Buyer may sustain as a result of this specific instruction

regarding such city report, including attorneys’ fees and/or costs which may be incurred to uphold this

indemnity.

DEED PREPARATION:

The following language is required to be inserted into all deeds of sale for HUD REO properties:

“The Secretary of Housing and Urban Development (Seller) agrees to sell the property at the price and

terms set forth herein, and to prepare a deed containing a covenant which warrants against the acts of the

Seller and all claiming by, through or under him.”

CANCELLATIONS:

Upon receipt of unilateral instructions from HUD to Escrow Holder to cancel this escrow and to

disburse funds, Escrow is authorized and instructed to comply with said instructions, cancel this escrow,

and disburse funds without further approval or instructions from Buyers herein. Buyer’s signature on

these escrow instructions shall be deemed their acknowledgement of Paragraph 12 of Sales Contract

with HUD and awareness that the earnest money deposit in escrow shall not be refunded to Buyer if

escrow is cancelled. Seller may, at Seller’s sole option and without further instructions from Buyer,

cancel this escrow. Seller may also, at Seller’s sole option and without further instruction from Buyer,

retain all or a portion of the deposit as “Liquidated Damages”. Seller reserves the right to apply the

earnest money or any portion thereof, to any sums which may be owned by the purchaser to the Seller as

rent.

Buyer(s) hereby accept the contract’s provision allowing for unilateral cancellation by the Seller, and

hereby release Escrow and its officers and/or employees of any and all liability and/or responsibility for

acting upon the unilateral instructions of the Seller (HUD) in the event of a cancellation, and

disbursement of funds as may be demanded by Seller.

Additional Escrow Instructions Rev. 1-7-16 Previous editions are obsolete. Page 4 of 4

NO Cancellation Fees via Escrow Company will apply if a HUD transaction cancels.

Initial Here: Purchaser(s) __________ Closing Agent __________

WRITTEN vs. ORAL INSTRUCTIONS:

NO NOTICE, DEMAND, OR CHANGE OF INSTRUCTIONS SHALL BE OF ANY EFFECT IN

THIS ESCROW UNLESS GIVEN IN WRITING BY ALL PARTIES AFFECTED THEREBY. NO

changes to the original contract will be made without written consent by authorized HUD asset manager.

Must be submitted for approval or denial.

ESCROW:

The Line 5 Distribution Sheet must be included with the final HUD-1/Closing Disclosure and cannot

exceed the seller’s allowable closing costs. The Disbursement sheet must also be included with the final

HUD-1/Closing Disclosure. The Sales Commission must be made payable only to the brokerage as

identified on the sales contract. Commissions cannot be disbursed directly to selling or listing agents in

escrow.

NO changes are allowed to be made on the final HUD-1/Closing Disclosure after the preliminary

HUD-1/Closing Disclosure is approved, with the exception of proration of utility, taxes, and HOA

which will have to be adjusted accordingly to actual closing date.

WIRING INSTRUCTIONS:

A copy of the completed Form SAMS-1103 Request to Wire Transfer Funds (Rev. 5/2014, items #6-10)

must be included with the Preliminary Seller’s Deed Package, in order to confirm that correct wiring

instructions are provided to the bank. It is Escrow’s responsibility to ensure the data is transmitted in the

prescribed format. Please ensure the correct FHA Case Number is included in the correct location on the

form (line #7) as this is the most common error and delays the sale in reconciling with HUD systems.

The wire confirmation must be included in the Final Closing Package.

Required Signatures:

________________________________________________________________________

(Escrow Officer) (Date)

________________________________________________________________________

(Purchaser) (Date)

________________________________________________________________________

(Purchaser) (Date)

________________________________________________________________________

(Selling Agent) (Date)

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