Fill - Free fillable Non-Profit / Local Government Contract (Sage Acquisitions) PDF form

Non-Profit / Local Government

Contract

Version 2.1

Please complete information in the designated fields shown below to auto-populate your sales contract.

Once complete, please be sure to print and sign or initial in all designated areas. Original contract packages must be received by Sage Acquisitions

within 2 business days of bid award. Please be aware of the new earnest money guidelines form and instructions on where to send the funds.

Please verify that ALL applicable pages of this contract package are filled out in its entirety.

Property Information

HUD Case Number: _________________

Property Address: __________________________________________________________ _____________________ _________ _________

Street Address City State Zip

Purchaser(s) Information

Purchaser(s) Names: 1. ____________________________________________ 2. ___________________________________________

Purchaser(s) SSN/ElN: 1. ____________________________________________ 2. ___________________________________________

Purchaser(s) Street Address: _____________________________________________________________________________________________

Purchaser(s) City/State/Zip: _______________________________________________________________________________________________

Purchaser(s) Contact Phone: _______________________________________________________________________________________________

Purchaser(s) Combined Names: ____________________________________________________________________________________________

Style in which Title will be taken: __________________________________________________________________________________________

Selling Agent/Broker Information

Brokerage Name: _______________________________________________________________________________________________________

Broker Name: __________________________________________________________________________________________________________

Brokerage ElN or SSN: ElN: _________________________________________ OR SSN: ____________________________________

Brokerage NAlD: ________________________________________________________________________________________________________

Brokerage Address (Street, City, State, ZIP): ________________________________________________________________________________

Brokerage Phone: ___________________________

Selling Agents Information: Name: _________________________ Cell: ___________________ Email: ________________________________

Purchase Info: Information and Amounts must MATCH the Bid submitted via the HUDHomestore exactly:

Line 3 - Purchase Price: _____________________________________

Line 5 - Closing Costs: ______________________________________

Line 6a - Selling Broker Commission: ________________________

Line 6b - Listing Broker Commission: ________________________

Line 7 - Net to HUD: _______________________________________

Earnest Money Deposit: ____________________________________

Purchaser Type:

Non-Profit Organization: ___

Other Government Agency: ___

Discount at closing: _____%

Date of Offer: __________________

Lead-Based Paint Addendum Attached (required for all properties built prior to 1978): ______ Yes ______ No

Please enter Closing Agent Company Name:

_______________________________

Please verify that ALL applicable pages of this contract package are filled out in their entirety.

Reset Form

State

Please Select Title Style from the list

0.00

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 $ _____________________

as 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.

, , State Not Selected,

No Title Style Selected

0.00

✔

0.00

✔

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.

Case #

Electronic Filing of 9548 Contract Addendum

Purchaser(s) and Broker have elected to use the electronic 9548 contract downloaded

form in the submission of their bid _____________________ (confirmation number) for

case # __________________________.

By doing so, all parties to this agreement certify, warrant, and represent that no

information and/or content of the 9548 contract has been altered in any manner. They

further certify, warrant, and represent that this is a true and accurate copy of the 9548

contract.

The broker and purchaser(s) further agree that (i) they 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 purchaser.

The broker and purchaser(s) 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).”

CERTIFICATION OF ACCURACY

The following parties have reviewed the information above and certify to the best of their

knowledge it is true and accurate, and that they agree to all of the terms and provisions

hereof.

____________________________________ __________________________

Purchaser Date

____________________________________

Print Name (Purchaser)

____________________________________ __________________________

Purchaser Date

____________________________________

Print Name (Purchaser)

____________________________________ __________________________

Broker/Agent Date

____________________________________

Print Name (Broker/Agent)

N/A

ref. Handbook 4000.1 (6/2018)

Exclusive Listing Period Purchase Addendum for

Governmental Entities and HUD-Approved Nonprofits

to Form HUD-9548, Sales Contract

Certification for Governmental Entities and HUD-Approved Nonprofits purchasing during

the Exclusive Listing Period

______________________________________________ (Name of Governmental Entity or

HUD-Approved Nonprofit), submits this offer to purchase the property located

at______________________________________________

______________________________________________________________________________

as a Governmental Entity or HUD-Approved Nonprofit buyer during the Exclusive Listing

Period. I certify that ______________________________________________ (Name of

Governmental Entity or HUD-Approved Nonprofit), has not purchased a HUD-owned property

during the Exclusive Listing Period within the past 24 months and that this offer is being

submitted with the representation that __________________________________________

(Name of Governmental Entity or HUD-Approved Nonprofit), will own the property for at least

12 months.

I certify that I have not knowingly submitted the HUD-9548, Sales Contract, for the above-listed

property, on behalf of an investor buyer. I further certify that I acknowledge that HUD will

prosecute false claims and statements and that conviction may result in criminal and/or civil

penalties.

The undersigned understands that any misrepresentations made on this form as to the agreed to

provisions may be subject to

criminal and/or civil penalties including, but not limited to, fine or

imprisonment, or both, under the provisions of Title 18, United States Code, Sections 1001 and 1010.

______________________________________________________________________________

Name of Governmental Entity or HUD-Approved Nonprofit

_____________________________ _____________________________ ________________

Name of Person Authorized to Sign

Sales Contract on Behalf of the

Governmental Entity or HUD

Approved Nonprofit

Signature

Date

, , State Not Selected,

U.S. Department of Housing and Urban Development

Single Family Acquired Asset

Office of Housing

Management System (SAMS)

Federal Housing Commissioner

Buyer Select Closing Agent

For properties identified for the “Buyer Select” closing agent program, the buyer will chose their own Escrow / Settlement Company.

HUD will not pay the escrow fee. The purchaser will be the responsible for any and all closing fees. Amounts listed on line 5 may be

applied toward closing fees. Please note Line 9 of the HUD-9548 Sales Contract must contain the name of the buyer selected

closing agent listed on this form.

TO ENSURE ACCURACY OF YOUR DOCUMENT, PLEASE UTITLIZE THE FILLABLE FORMAT BELOW

_HANDWRITTEN DOCUMENTS WILL NOT BE ACCEPTED_.

I/We authorize ___________________to release a copy of the sales contract and all applicable addenda/amendments for the following

property to the closing agent/escrow company listed on this form.

FHA Case Number ________________________________

Property Address ______________________________________City__________________________State________Zip_________

Buyers Name ___________________________________________ Phone Number ______________________________________

____________________________________________ Phone Number ______________________________________

Selling Broker Name ______________________________________ Phone Number ______________________________________

Listing Broker Name_______________________________________ Phone Number ______________________________________

TITLE COMPANY / CLOSING AGENT / ESCROW COMPANY INFORMATION

Company Name _____________________________________________ Phone Number _____________________________

Primary Contact Person ________________________________________ Phone Number _____________________________

Secondary Contact Person _____________________________________ Phone Number _____________________________

Mailing Address________________________________________City__________________________State________Zip_________

Phone Number ________________________________ Email Address: __________________________________________________

Has this closing/escrow company previously registered with HUD? YES NO

If yes, please enter Title ID# _____________________________

If no, attach a copy of Closing/Escrow Company’s State license, evidence of Errors and Omissions insurance, and

evidence of appropriate fidelity bonding currently in place. .

Purchaser’s Signature _____________________________________________________________Date:__________________

Selling Agent’s Signature __________________________________________________________Date:__________________

As the closing agent/company identified above, we agree that no release, whether written or oral, will be required from the

buyer or any other entity prior to forwarding the earnest money to the Department of Housing and Urban Development

_HUD_ or their authorized agent should the earnest money is determined as forfeited in part or whole, and such

determination is provided in writing by HUD or their designated representatives in accordance with HUD’s Earnest Money

Policy which the purchaser has signed.

Closing Company Authorized Agent: _________________________________________________Date:___________________

For Agency Use Only:

Processed By _________________________________________________Date:________________ APPROVED DENIED

Sage Acquisitions

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Closing Instructions And Certification

Page 1 of 6

SAGE03252016

The following are general instructions and may not provide all disclosures for sales under special

programs or circumstances. The selected closing entity must read this certification thoroughly and

acknowledge prior to the contract being executed for the specified property.

HUD CASE NUMBER: _____________________________________________________________

PROPERTY ADDRESS: ________________________________________________________________

BUYER’S NAME: _____________________________________________________________________

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 From 9548), please notify the buyer’s

Real Estate agent immediately.

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

required by HUD. (See “Standards for Acceptable Closing Companies” contained in this document)

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 SAGE ACQUISITIONS.

EARNEST MONEY: SAGE ACQUISITIONS will NOT include the earnest money with the fully executed

sales contract. The earnest money will be delivered within (2) business days of receiving the executed sales

contract from the Listing Broker. If you do not receive the EM please notify SAGE ACQUISITIONS by the

) third day.

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.

HOMEOWNER ASSOCIATION (HOA) FEES/DUES: HUD will pay for HOA fees/ dues pro-rated

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

are the legal responsibility of HUD during its ownership in accordance with State Statutes .

RENTAL MONIES: You will be provided special instructions from SAGE ACQUISITIONS in case

the property is being purchased by a HUD approved tenant.

Closing Instructions And Certification

Page 2 of 6

SAGE03252016

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.

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 SAGE

ACQUISITIONS.

For properties covered by an Asset Control Area (ACA) Agreement, SAGE ACQUISITIONS will provide

additional closing instructions.

CLOSING COSTS: HUD will pay up to the amount on Line 5 of the executed sales contract towards

reasonable and customary closing costs and the amount shall be annotated on the HUD 1 in

accordance with RESPA. Any unused portion will be credited to HUD’s proceeds.

Closing Agent Fee: The purchaser is 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. The recording of the Deed may not be relinquished to any

other party.

EXTENSION FEES: All requests for extensions must be submitted to SAGE ACQUISITIONS for

review and are not guaranteed. Fees will be made payable to HUD. Requests must include the

appropriate extension request form, lender documentation or proof of funds and fee. There are

instances in which a free extension may be granted. Additional information and instruction will be

provided after contract execution.

HUD-1 PREPARATION: You must accurately prepare the Preliminary HUD-1 or Settlement

Statement and provide it to SAGE ACQUISITIONS five (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 SAGE ACQUISITIONS at least three (3) business days prior to the scheduled

closing. The Deed can be sent to SAGE ACQUISITIONS electronically. SAGE ACQUISITIONS

will execute, notarize, and return an original Deed via two-day delivery.

Closing Instructions And Certification

Page 3 of 6

SAGE03252016

WIRE PROCEEDS: You must wire HUD’s 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. SAGE ACQUISITIONS will provide specific wiring instructions, including the form

to be used. The case number shown on the sales contract package MUST be included on the wire

for the funds to properly post.

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 SAGE ACQUISITIONS via email on the day the closing

has or has not occurred.

CLOSING PACKAGE: You must deliver a complete closing package to SAGE ACQUISITIONS not more than

two (2) business days after the closing is completed. At a minimum, the post-closing package shall include the

following:

• Final HUD-1 and the HUD 1 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.

Additional information and instruction on a complete final package will be provided by SAGE

ACQUISITIONS after contract execution.

CANCELLED SALE: If a sale is canceled and not immediately rescheduled, the deed must be

returned to SAGE ACQUISITIONS within two (2) business days of the original scheduled

closing date. If the sale does not close on the scheduled date, notify SAGE ACQUISITIONS

immediately via email 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 SAGE

ACQUISITIONS no later than the second business day after a closing is cancelled. The original

document will then be mailed to SAGE ACQUISITIONS that same day, along with the earnest money

deposit and extension fees that are in your possession.

Closing Instructions And Certification

Page 4 of 6

SAGE03252016

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 SAGE ACQUISITIONS, payable to HUD, within 3 business days of the earnest money

disposition issued by SAGE ACQUISITIONS or expiration of the contract whichever shall occur

first.

HUD, nor SAGE ACQUISITIONS, will be responsible for paying a cancellation fee, if the sale does

not close and the contract is cancelled, regardless of reason. Cancellation fees may not be deducted

from the earnest money or any other funds held by the closing agent.

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 for the applicable entity type (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.

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) when required to insure against any improper handling of

HUD's proceeds or deed.

3. Conflict of Interest - A BSCC who has, or whose immediate family member, 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.

Closing Instructions And Certification

Page 5 of 6

SAGE03252016

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

currently debarred, suspended, or otherwise excluded from participating in HUD

transactions or federal programs, may participate in any aspect of the closing or title

clearance process.

5. 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, sexual

orientation, gender identity, marital status, 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.

6. Failure to Abide by HUD’s Closing Instruction – Failure to adhere to HUD requirements

or guidance may result in sanctions including, but not limited to civil money penalties or

administrative action against any person, part, company, form, or business.

7. I fully understand that it is a Federal crime punishable by fine or imprisonment, or both, to

knowingly make any false statements concerning any of the above facts, and/or standards as

applicable under the provisions of Title 18, United States Code, and Section 1001, etseq.

Closing Instructions And Certification

Page 6 of 6

SAGE03252016

I, the undersigned, for myself and any business entity I represent, certify that I have read this

document and can and will perform all the duties and tasks required by the terms of this document,

and comply with all of the laws, regulations and standards specified in this document. I further

understand and will comply with these instructions and requirements and any subsequently

provided written instructions provided by HUD directly or SAGE ACQUISITIONS, for the sales

transaction named on the attached executed Sales Contract, and understand that my failure to

comply with such instructions and requirements and/or perform such duties and tasks may subject

me to sanctions, administrative actions, or civil money penalties.

Signature: ___________________________________________ Date: _______________

Printed Name with Title: ___________________________________________

Telephone#______________ Email: ________________________________

State License #________________ HUD Title ID (If known) #____________

HUD CASE NUMBER: ___________________________________

PROPERTY ADDRESS: ____________________________________________________________

BUYER’S NAME: ____________________________________________

Acknowledgement and certification of this document MUST be submitted with the sales contract or

there will be a delay in execution. Once the contract has been executed, additional training

information will be provided, including designated email addresses for SAGE ACQUISITIONS.

Forfeiture and Extension Policy

Page 1 of 2

F&E04202016

HUD Case Number: ____________________________________________________________________

Property Address: ____________________________________________________________________

All properties are expected to close within 45 days from the date Sage Acquisitions executes the sales contract.

Extending escrow beyond the 45 day period disclosed by

Sage Acquisitions on the Notice of Contract Acceptance

is initiated by the Purchaser filling out the Extension Request Form located under the FORMS link located on

our website: www.sageacq.com

Requests for contract extensions

Sage Acquisitions will review extensions of time upon receipt of written request. Extensions of time to close the sale are

entirely within Sage Acquisitions and/or HUD’s discretion. An extension, if granted, will be under the following conditions:

1. All extensions must be received no later than five days prior to the expiration of contract (please read

carefully):

a. All documentation must be submitted directly to Sage Acquisitions.

b. Requests for free extensions may be submitted via email to our office under specific

circumstances:

i. Delays attributed to a seller delay (asset manager clearing title issue, HOA resolution,

Utility or other concerns related to a delay due to a HUD contractor) will receive a free

extension.

2. The documentation submitted with the request must establish the cause of delay and verification of

underwriting approval and loan status. All lender letters must contain the signature of the loan officer

or underwriter.

3. Extension fees are only granted in increments of 15 days. The cost of the extension, when charged, is

based on the contract sales price (line 3) and submitted at the time of request (unless it meets the

qualifications as outlined above). Fees for extensions are as follows:

4. Extension fees shall be retained by Seller if a closing does not occur.

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

6. The granting of one extension shall not obligate the Seller to grant additional extensions and the Seller

shall declare a Default for the Purchaser's failure to close the sale upon the expiration of the original

closing period or upon expiration of the extension.

Contract Sales Price

Extension Fee

$25,000 or less

$150 ($10 per day)

$25,001 to $50,000

$225 ($15 per day)

$50,001 or more

$375 ($25 per day)

, , State Not Selected,

Forfeiture and Extension Policy

Page 2 of 2

F&E04202016

Buyer’s

Initials

Seller Disclosure

Seller makes no representations or warranties concerning the condition of the property,

including but not limited to mechanical system, 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. 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.

Sel

ler disclosure concerning HOA dues, Mello Roos taxes, assessments, or any tax concerning

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

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

Buyer’s

Initials

Walk-Thru Inspection

All Purchasers are strongly encouraged to perform 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 Asset Manager, Sage Acquisitions of the damage.

Reporting of the damage does not guarantee the correction of the problem that has been

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 in the best interest of the Dept. of HUD. The buyer 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).

__________________________________

Purchaser (signature)

________

Date

___________________________________

Purchaser (signature)

_______

Date

Requirements For Prequalification

Letter Or Proof Of Funds

(Cash Closing)





Aprequalificationletterorproofoffunds(forcashpurchase)mustbesubmittedwithallSalesContract

packages.AnyofferreceivedwithoutthePre‐Qualificationletterwillberejectedandthebackupbidderwillbe

contacted.Belowaretheguidelinesforsubmittingacceptable documentstoSageAcquisitions.



PrequalificationLetter(requiredoncontractsbeingsubmittedwithFHAorconventionalfinancing): 

 Mustbeprintedonth

eLender’sletterhead

 MusthavePurchaser’s Name

 Mustbedatedwithin30daysofthebidacceptancedate

 MustconfirmthetypeoffinancingthePurchaserhasappliedfor

 MustconfirmtheamountthePurchaserhasbeenapprovedfor

 Mustconfirmthe

Purchaser’scredithasbeenobtainedandreviewed

 Approvedloanamountmustmeetorexceedthegrosspurchaseprice



Proofof“cash”fundsavailable(requiredoncontractsbeingsubmittedforcashpurchase):

• Copyofbankstatementverifyingfundsareavailable

• Accountnumbermaybe“blacked

out”onbankstatementsorotherrelateddocuments

• Purchaser’snamemustbeonthestatement,regardlessofdocumenttype

• Statementmustbedatedwithin30daysofbidacceptancedate

• Availableaccountbalancemustmeetorbegreaterthanthegros

spurchaseprice

Appeodix

LAND

USE

RESTRICTION

ADDENDUM

This

addendum is incorporated into,

and

made

part

of,

the

FHA

ale

Contract

for

the

property

located

executed this

same

day

, between (Purchaser)

and

the Secretary

the

United

Sta

Department

ous

and

Urban Development (Seller).

less an exception is

granted

writing by the

ller in

FHA

approved

Affordable Housing

Plan

the

Purchaser s

hall

utilize

the

operty

expand

affordable housing opportunities by:

Completing need

repairs

bring

the

property in compliance with local

hou

sing code follow

resale, lease, or l

ease

purchase

only to a person

who

intends to

occupy

the

property

his

her

principal residence

and

whose

come

below

percent

the median

come

the

area,

when

adjusted for family siz.e,

State,

government

tity, tribe,

agency thereof.

ld,

the

Purchaser s

hall

resell the property for

amount

not

in excess

percent

oftbe

Net

Development Cost.

Net

Development

Cost

the

total HUD-allowable costs to

rchase, rehabilitate,

and

resell

the

property

The

property may

not

occ

upied

or resold to

any

the

Purchaser's

officers,, dfrectors,

elected

appoin

ted offic

ls, employees,

business associate

either

during

their tenure

for

one

the

reafter,

any

individual who is r

ela

blood, marriage,

law

any

the

above.

ere

may

confl

ict

interest with individuals or firms

that

may

provide a

cqui

sition

rehabilitation funding;

manage

ment,

rehabilitation

ices;

other

rvi

ces associated with

the property.

Il. Purchaser

must

prov

ide

periodic

reports, in the format

and

frequen

specified

HUD

regarding t

sposit

the

property subject

this

Addendum.

ill.

This Addendum survives the expiration,

any,

ope!iition

law

otherwise,

the

FHA Sales Contract,

and

shall terminate five

years

from

the

date

conta

ined herein.

Purchaser

Witne

Secretary

Housing

and

Urban Development

tness

_____

____

(Type

Name

and

Sign)

Note: Properties not using NSP Funds only

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, , State Not Selected,

Radon Gas and Mold Notice

and Release Agreement

U.S. Department of Housing

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 SAGE ACQUISITIONS,, 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 invis

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

whether it is visibl

e 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 th

at 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 EXPER

IENCED PROFESSIONAL TO CONDUCT INSPECTIONS AND TESTS

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

are solely responsi

ble 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 fo

rever 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 ___________________________.

Purchaser’s Signature Purchaser’s Signat

ure

Purchaser’s Printed Name Purchaser’s Printe

d Name

Form HUD-9548-E (6/2004)

, , State Not Selected,

CAUTION—Your Action is Required Soon

U.S. Department of Housing

OMB Approval No: 2502-0538

and Urban Development

(exp. 06/30/2021)

Federal Housing Administration (FHA)

For Your Protection:

Get a Home Inspection

You must make a choice on getting a Home Inspection. It is not done automatically.

You have the right to examine carefully your potential new home with a professional home inspector. But a home inspection is

not required by law, and will occur only if you ask for one and make the arrangements. You may schedule the inspection for

before or after signing your contract. You may be able to negotiate with the seller to make the contract contingent on the results

of the inspection. For this reason, it is usually in your best interest to conduct your home inspection as soon as possible if you

want one. In a home inspection, a professional home 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 and

Estimate the remaining useful life of the major systems, equipment, structure, and finishes.

The Appraisal is NOT a Home Inspection and does not replace an inspection.

An appraisal estimates the market value of the home to protect the lender. An appraisal does not examine or evaluate the

condition of the home to protect the homebuyer. An appraisal only makes sure that that the home meets FHA and/or your lender’s

minimum property standards. A home inspection provides much more detail.

FHA and Lenders may not Guarantee the Condition of your Potential New Home

If you find problems with your new home after closing, neither FHA nor your lender may give or lend you money for repairs.

Additionally, neither FHA nor your lender may buy the home back from you. Ask a qualified home inspector to inspect your

potential new home and give you the information you need to make a wise decision.

Your Home Inspector may test for Radon, Health/Safety, and Energy Efficiency

EPA, HUD and DOE recommend that houses be tested and inspected for radon, health and safety, and energy efficiency,

respectively. Specific tests are available to you. You may ask about tests with your home inspector, in addition to the structural

and mechanical systems inspection. For more information: Radon -- call 1-800-SOS-Radon; Health and Safety – see the HUD

Healthy Homes Program at

www.HUD.gov

; Energy Efficiency -- see the DOE EnergyStar Program at www.energystar.gov.

Selecting a Trained Professional Home Inspector

Seek referrals from friends, neighbors, other buyers, realtors, as well as local listings from licensing authorities and local

advertisements. In addition, consult the American Society of Home Inspectors (ASHI) on the web at: www.ashi.org or by

telephone at: 1-800-743-2744.

I / We (circle one) have read this document and understand that if I/we wish to get a home inspection, it is best do so as soon as

possible. The appraisal is not a home inspection. I/we will make a voluntary choice whether to get a home inspection. A home

inspection will be done only if I/we ask for one and schedule it. Your lender may not perform a home inspection and neither FHA nor

your lender may guarantee the condition of the home. Health and safety tests can be included in the home inspection if I/we choose.

________________________________/__/___

_______________________________/__/____

(Signed) Homebuyer

Date

(Signed) Homebuyer

Public reporting burden for this collection is estimated at an average of 30 minutes to review the instructions, find the information, and complete this form. This agency cannot conduct or sponsor a collection of

information unless a valid OMB number is displayed. You are not required to respond to a collection of information if this number is not displayed. Valid OMB numbers can be located on the OMB Internet page at

http://www.whitehouse.gov/library/omb/OMBINVC.html - HUD If desired you can call 1-800-827-1000 to get information on where to send comments or suggestions about this form.

HUD-92564-CN (expiration)

FHA Case No: ____________

Home Inspection Guidelines

Revised 8/20/2013

Property Case #: ____________________________

Property Address: __________

________________________________________________

Buyer and Selling Agent Acknowledgment

(Initial all blanks and sign at the bottom)

_________ _________

Buyer Agent

_________ _________

Buyer Agent

_________ _________

Buyer Agent

_________ _________

Buyer Agent

_________ _________

Buyer Agent

1. Buye

rs are not allowed inside any structures (those which must be accessed by a

HUD key) of any HUD owned property without being accompanied by a NAID-

registered Real Estate Broker as their representative.

2. When

ordering utility activation, Purchaser and Agent agree not to attempt

activation without prior written authorization. The utility request form must be

signed by both the Purchaser and Agent and returned to the FSM for

authorization.

3. All expenses associated with the activation of the utilities and testing of the

systems shall be at the expense of the Purchaser. Approval to activate utilities

does not remove any liability of damages done to the property by the Purchaser

and/or Sales Agent.

4. The P

urchaser, Sales Agent, or their responsible designee must be present at the

time of the utility activation and must confirm that all water valves are closed

prior to activation. The Purchaser, Sales Agent, or their responsible designees

are also responsible for de-winterizing the property.

5. Per HUD-

9548, Conditions of Sale; Buyers are not allowed to repair, modify, or

make improvements of a HUD owned property until they have closed on the

property.

Refer to assigned FSM’s website for fees and schedules.

_________________________________________________________

Purchaser (signature) Date

_________________________________________________________

Selling Agent (signature) Date

N/A

, , State Not Selected,

Property Disposition Program U.S. Department of Housing OMB Approval No.2502-0306

LEAD-BASED PAINT DISCLOSURE and Urban Development

(Expires 04/30/2020)

ADDENDUM TO SALES CONTRACT Office of Housing

Federal Housing Commissioner

SELLER HAS NO PERTINENT RECORDS

Page 1 of 3 Form HUD-9545-Z

(3/1/2011)

Public reporting burden for this collection of information is estimated to

average 6 minutes each for the Purchaser and the Broker, 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 HUD Lead Disclosure

Rule (24 CFR Part 35). 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. The

information will be retained by the Department as part of the transaction

record for a property disposition action. Failure to provide this information

could affect your participation in the HUD Homes program.

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

Department is a felony. It is punishable by a fine not to exceed $250,000

and/or a prison sentence of not more than two years. Failure to adhere to

the residency and resale requirements may result in administrative

sanctions being taken against the purchaser.

Privacy Act Notice: The United States Department of Housing and Urban Development, Federal Housing Administration, is

authorized to solicit the information requested in the form by virtue of Title 12, United States Code, Section 1701 et seq., and

regulations promulgated thereunder at Title 12, Code of Federal Regulations. While no assurance of confidentiality is pledged

to respondents, HUD generally discloses this data only in response to a Freedom of Information Act request.

LEAD-BASED PAINT DISCLOSURE ADDENDUM

SELLER HAS NO RECORDS OR REPORTS PERTAINING TO LEAD-BASED PAINT AND/OR

LEAD-BASED PAINT HAZARDS

Property Case #:

Property Address:

Lead Warning Statement

Every Purchaser of any interest in residential real property on which a residential dwelling was built prior to

1978 is notified that such property may present exposure to lead from lead -based paint that may place young

children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent

neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and

impaired memory. Lead poisoning also poses a particular risk to pregnant women. The Seller of any interest in

residential real property is required to provide the Purchaser with any information on lead -based paint hazards

from risk assessments or inspections in HUD’s possession and notify the Purchaser of any known lead-based

paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to

purchase.

Inspection Contingency

Seller has no records or reports pertaining to lead-based paint and/or lead-based paint hazards. The Purchaser

has a contingency period that expires fifteen (15) calendar days from the date the contract is accepted by HUD to

conduct at the Purchaser's expense, an independent lead-based paint inspection visual assessment for

deteriorated paint or risk assessment. The Purchaser may withdraw from the contract by providing written

notice of withdrawal on or before the contingency expiration date (as evidenced by the postmark on the

Purchaser's notice of withdrawal). The Purchaser will be entitled to a refund of earnest money only if the

Purchaser obtains an independent lead-based paint inspection or risk assessment performed by a Certified

Lead-Based Paint Inspector or Risk Assessor, and the Purchaser provides HUD with a copy of the

inspection report.

, , State Not Selected,

Page 2 of 3 Form HUD-9545-Z

(3/1/2011)

Financing Type (Selling Broker to initial applicable clause)

______ No FHA Financing of Property constructed Prior to 1978: The purchase of this property is not being

financed with an FHA insured loan. The Purchaser has an inspection contingency that expires 15 days from the

date of the Purchaser's signature below. The property is being sold as is with respect to all conditions including,

subject to the above contingency, the potential presence of lead-based paint and/or lead-based paint hazards.

_____ Any FHA Financing Except 203(k): This property is being sold subject to FHA insured financing

under any program other than a 203(k) Rehabilitation Mortgage. Upon contract execution HUD will procure

a lead-based paint inspection and will deliver the inspection report to the Selling Broker by overnight delivery

service along with a paint stabilization plan and cost estimate if deteriorated lead-based paint is found and a

supplemental Lead-Based Paint Disclosure Addendum.

The Purchaser shall have the right to review the inspection report, paint stabilization plan and cost estimate.

If deteriorated lead-based paint was identified in the Report, HUD will only perform stabilization if the cost estimate is

$4000.00 or less. If the cost estimate is greater than $4000.00, HUD at its sole discretion may: (1) cancel the sales

contract, or (2) allow the purchaser to amend the contract financing to FHA 203k or conventional. In the event that

HUD cancels the sale, the purchaser will be entitled to a 100% refund of earnest money.

If the cost estimate is $4000.00 or less and the Purchaser is dissatisfied with the information provided, the Purchaser

may withdraw from the contract and receive a full refund of earnest money by providing written notification to HUD of

the intention to withdraw. Written notification must be postmarked by the latest of fifteen (15) calendar days from the

date the contract is accepted by HUD or two (2) business days following the date of the Purchaser’s signature on the

supplemental Lead-Based Paint Disclosure Addendum.

If deteriorated lead-based paint was identified in the inspection Report and the Purchaser does not exercise its

option to withdraw from the sales contract, HUD will stabilize the deteriorated lead-based paint in

accordance with the stabilization plan and obtain lead clearance by the close of the escrow period or any

extensions thereof.

_____ FHA 203(k) Financing: This property is being sold subject to a 203(k) Rehabilitation Mortgage. Upon

contract execution HUD will procure a lead-based paint inspection and will deliver the Report to the Purchaser

by overnight delivery service along with a lead-based paint stabilization plan if deteriorated lead-based paint is

found and a supplemental Lead-Based Paint Disclosure Addendum.

The Purchaser shall have the right to review the inspection report, paint stabilization plan and cost estimate. If

the Purchaser is dissatisfied with the information provided, the Purchaser may withdraw from the contract

and receive a full refund of earnest money by providing written notification to the Seller of the intention to

withdraw. Written notification must be postmarked by the latest of fifteen (15) calendar days from the date

of the Purchaser's signature below, or two (2) business days following the date of the Purchaser's signature

on the supplemental Lead-Based Paint Disclosure Addendum.

If deteriorated lead-based paint was identified in the Report and the Purchaser does not exercise its option to

withdraw from the sale contract, the Purchaser shall stabilize the deteriorated lead -based paint as part of its

work plan for the property rehabilitation and shall obtain lead clearance before occupancy. Purchaser shall

complete the 203(k) Rehabilitation Financing Lead Agreement form HUD-9548-G.

FHA Case No. ________________

Page 3 of 3 Form HUD-9545-Z

(3/1/2011)

Purchaser Acknowledgement (initial)

______ Purchaser has received the EPA-approved pamphlet "Protect Your Family from Lead in Your Home."

_____ Purchaser has received a 15-day opportunity to conduct a inspection or risk

assessment for the presence of lead-based paint and/or lead-based paint hazards.

Selling Broker Acknowledgement (initial)

______ Selling Broker is aware of his/her responsibility to ensure compliance with the 42 U.S.C. 2852d.

Certification of Accuracy

The following parties have reviewed the information above and certify, to the best of their knowledge, that the

information they have provided is true and accurate.

____________________________ (Purchaser) ____________ , 20 ____ (date)

____________________________ (Co-Purchaser) _________ , 20 ____ (date)

____________________________ (Selling Broker) _______ , 20 ____ (date)

____________________________ (Seller) _____________ , 20 ____ (date)

FHA Case No. ________________

n/a

Mailing Instructions

Page 1 of 1

Updated 11.13.19

Upon notification of bid award, the following must be completed within 2 business days:

1. Complete sales contract package, along with a copy of the earnest money delivered to the

designated Sage Acquisitions office (address shown in the chart below)

2. Original earnest money funds delivered directly to the listing broker assigned to the property

Not following these instructions may result in the cancellation of the awarded bid.

HUD REGION STATES WITHIN EACH HOC REGION MAILING ADDRESS

Atlanta HOC

Area 4A – Indiana and Kentucky

Area 8A – Florida, Puerto Rico, US

Virgin Islands

3575 Piedmont Road NE, STE L-120

Atlanta, GA 30305

Phone: (877) 369-9018

Philadelphia HOC

Area 1P – Michigan

Area 4P – Ohio

3575 Piedmont Road NE, STE L-120

Atlanta, GA 30305

Phone: (888) 909-5007

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