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Nonprofit Sales Package (BLB Resources, Inc.)

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4D: IA, NE, SD, WI
Nonprofit Sales Package
Version 8-12-20
Please note that this package is provided for informational and reference purposes only. Effective 5-1-17, HUD
began using an Electronic Signature (E-Signature) process through DocuSign for the sales contract package.
Selling agents and purchaser(s) are encouraged to review, complete, and sign a sales package prior to
submitting an offer. If the bid is accepted, a completed sales package is required to be submitted and the E-
signature process is strongly recommended.
To complete this sales contract package, please fill in ALL information in the fields below to populate the
Nonprofit Package. This completed package should then be retained for information/reference purposes. It
should not be submitted to BLB Resources unless specifically requested.
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
,
$0.00
Print Package
4D: IA, NE, SD, WI
Nonprofit Sales Package
Reference Sales Package Verification Checklist
When your sales package has been completed, you may review the following checklist to verify it is a
complete package. Please note that if your bid is accepted and a contract package completed via the
E-signature process, a hard copy sales package will D be submitted to BLB Resources. This package
should then be retained for informational/reference purposes only.
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”
“Carbon Monoxide Detector 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)
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 Control No. 2502-0306
(Expires 06/30/2023)
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
D
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:
X
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:
X
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 ___________________________________________________________ .
4.
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
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.
,
✔
30
: /
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
4D Rev. 8-12-20
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.
Or
_____ 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
All Contract Areas Rev. 4-15-15 All previous versions are obsolete. © BLB Resources, Inc. 2015 All rights reserved.
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 – 4D: IA, NE, SD, WI
4D Revised 8-12-20 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
Earnest money deposits must be in the form of a cashier’s check, money order, or other certified funds with no
termination date or cancellation provision, 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
HUD Forfeiture and Extension Policy – 4D: IA, NE, SD, WI
4D Revised 8-12-20 Page 2 of 3
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.
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).
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 date 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, Inc. Enclosed fees must be in the form of a certified
check or money order.
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
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 reduction. Within the three percent (3%) allowance, HUD will reimburse loan origination fees up to one
HUD Forfeiture and Extension Policy – 4D: IA, NE, SD, WI
4D Revised 8-12-20 Page 3 of 3
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-Through 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)
OMB Approval No: 2502-0538
(exp. 06/30/2021)
U.S. Department of
HUD-92564-CN (6/14)
Housing and Urban
Development
Federal Housing Administration (FHA)
For Your Protection:
Get a Home Inspection
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; and
Estimate the remaining useful life of the major systems, equipment, structure, and finishes.
You Must Ask for a Home Inspection
A home inspection will only occur if you arrange for one. FHA does not perform a home inspection.
Decide early. You may be able to make your contract contingent on the results of the inspection.
Appraisals are Different from Home Inspections
An appraisal is different from a home inspection and does not replace a home inspection. Appraisals estimate the
value of the property for lenders. An appraisal is required to ensure the property is marketable. Home inspections
evaluate the condition of the home for buyers.
FHA Does Not Guarantee the Value or Condition of your Potential New Home
If you find problems with your new home after closing, FHA cannot give or lend you money
for repairs, and FHA cannot 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.
Radon Gas Testing and other safety/health issues
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 toll-free National Radon Information Line at 1-800-SOS-Radon or 1-800-767-7236.
Ask your home inspector about additional health and safety tests that may be relevant for your
home.
Be an Informed Buyer
It is your responsibility to be an informed buyer. You have the right to carefully examine your
potential new home with a qualified home inspector. To find a qualified home inspector ask for
references from friends, realtors, local licensing authorities and organizations that qualify and test
home inspectors.
CAUTION
This section for BLB Resources, Inc. use only
BLB Resources Processed by: ________________________ Date:______________
Approved Denied
4D Rev 8-11-20 All previous versions are obsolete. © BLB Resources, Inc. 2020 All rights reserved.
4D: IA, NE, SD, WI
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) 379-2895 or email to 4Dclosings@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
OR
_____ 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
4D Rev 8-11-20 All previous versions are obsolete. © BLB Resources, Inc. 2020 All rights reserved.
4D: IA, NE, SD, WI
Buyer Select Closing Agent Addendum
All contracts will be subject to the “Buyer Select” closing agent program. The buyer will choose their own escrow
company. HUD will no longer pay for the escrow fee, 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, money order, or certified funds) 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 submitted separately
from original contract package, please fax to (949) 379-2895 or email to 4Dclosings@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
Page1of4
U.S.DepartmentofHousingandUrbanDevelopm ent (HUD)
ClosingInstructionsandCertification
Thefollowingaregeneralsettlementinstructionsanddonotprovideallspecificinstructionsforsales
underspecialprograms.
FHACaseNumber:______________________ DateofHUD’sOwnership:_________________________
PropertyAddress:_______________________________________________________________________
Buyer(s)Name:_________________________________________________________________________
AmountofDiscountBuyerReceived:___________%
AmountofRentalMoneyDue:$________________AmountofUtilityPaymentDue:$_
______________
Assettlement/titlecompa ny/agent,youmustadheretothefollowingclosinginstructionstoclosethis
salebetweentheUSDepartmentofHousingandUrbanDevelopment(HUD)andthebuyeridentifiedon
theattachedexecutedsales contrac t.Ifyouareunabletoperformthesetaskswithintherequiredtime
frame(asdef
inedonLine9oftheHUDForm9548),pleasenotifythebuyer’sRealEstateagent
immediatelysothebuyercanselectadifferentsettlement/titlecompany.
Asasettlement/titlecompany,youmustmeetallapplicablelocalandstatestandardsaswellasthose
requiredbyHUD.
Youmustclosethissaleforonlythebu
yer(s)identifiedontheexecutedsalescontract,or
amendment/addendumwhichhasbeenexecutedbythebuyersandHUD’sdelegatedAssetManager.
EARNESTMONEY:TheAssetManagerhas____hasnot_____includedtheearnestmoneywiththefully
executedsalescontract.
REALESTATETAXES:Realestatetaxesforthecurrentyearshallbepro ‐ratedtotheda
teofclosing.HUD
willonlypayfortaxescurrentlydueandwillnotpayorreimburseanypartyafterclosingifrealestate
taxesarereassessedbylocalgovernment.Thelastpaymentwasmadeon_________intheamountof
$________,whichcoversthefollowingperiodoftime:__
_________through___________.
HOMEOWNERASSOCATION(HOA)FEES/DUES:HUDwillpayforHOAfees/duespro‐ratedfromthedate
ofHUD’sownershipthroughthedateofclosing.HUDwillonlypayforHOAfees/duesthatarethe
responsibilityofHUDduringitsownership.Thelastpaym
entwasmadeon_________intheamountof
$________,whichcoversthefollowingperiodoftime:___________through___________.
RENTALMONIES:YoushallverifywiththeAssetManagerthatallrentalmoniesdueHUDhavebeen
collectedoutsidesettlementifthebuyerisanapprovedHUDtenant.Ifanydueamountshav
enotbeen
paid,youshallensuresuchpaymentismadeattimeofclosing.
SPECIALPROGRAMS:HUDhasanumberofspecialprograms,includingtheGoodNeighborNextDoor
(GNND)Salesprogram,inwhichthebuyerreceivesadiscountoffthepurchaseprice,asindicatedonthe
executedsale
scontract.Suchdiscounts aretobereflectedofLine507ofFormHUD‐1,Settlement
StatementorSectionL,OtherCreditsoftheClosingDisclosure.
Further,somesalessuchasthoseunderGNNDrequireasecondNoteandDeedofTrust/Mortgage
and/oraLandUseRestrictionAddendum.Ifappli
cabletothissale,specialinstructionsforthecompletion
ofthosedocumentsareattachedorwillbesuppliedbytheAssetManager.
Page2of4
ForpropertiescoveredbyanAssetControlArea(ACA)Agreement,theAssetManager,willprovide
additionalclosinginstructions.
CLOSINGCOSTS:HUDwillpayuptotheamountonLine5oftheexecutedsalescontract,orupto3%of
thesalesprice,whicheverisless,towardsreasonableandcus
tomaryclosingcostsandtheamountshall
beannotatedontheHUD1/ClosingDisclosureinaccordancewithRESPA.Anyunusedportionwillbe
creditedtoHUD’sproceeds.(CustomaryLoanOriginationFeeisupto1%ofthemortgage;1.5%ona
203(k)loan)
BuyerSelectClosingFee:Th
epurchaserisprimarilyresponsibleforanyandallclosingfeesuptothe
maximumallowedperStateLawandRegulatoryrequirements.Thebuyermayapplyamountslistedon
Line5ofthesalescontractforpaymentofclosingfees.
RecordingfeesfortheSpecialWarranty/GrantDeedstransferringownershipfromHUDtothebu
yeras
statedontheexecutedsalescontract,forthesecondNote/DeedofTrust,ifrequiredforspecialHUD
programs,andforspecialaddendums,ifrequired,suchasLandUseRestrictionAddendum,arethe
expenseofthebuyer.ThisexpensemaybecoveredfromfundsonLine 5of theexecute
dsalescontract.If
thebuyerdidnotrequestfundsonline5,theamounttocoverthecostofrecordingshallbecollected
fromthebuyeratclosing.
HUD‐1/CLOSINGDISCLOSUREPREPARATION:YoumustaccuratelypreparethePreliminaryHUD‐1or
SettlementStatement/ClosingDisclosureandprovideittoAssetManager atle
ast5businessdaysin
advanceofthescheduledclosingdatefortheirreview,approval,andreturnpriortoclosing.Thiscanbe
accomplishedelectronically.
DEEDPREPARATION:YoumustprepareaSpecialWarrantyorGrantDeed(whereapplicable)andprovide
ittotheAssetManageratleastfive(5)businessdayspriortothescheduledclos
ing.TheDeedcanbesent
toAssetManagerelectronically.AssetManagerwillexecute, notarize,andreturntheoriginalDeedvia
overnightdelivery.Includeareturnaddresswhichisaccessiblebytheirovernightmailcarrier.
EXTENSIONS:Ifanextensionis requir
ed,thepurchaser’srealestatebrokerwillsubmittherequired
closingextensionrequestform,alongwiththeextensionfee,totheAssetManagerpriortoexpirationof
thesalescontract.TheAssetManagerwillprovideyouwithanelectronicnotificationoftheapprovaland
copyoftheexecutedextensionagreementwhichwillprovideyouwiththenewcontrac
texpirationdate.
TheAssetManagerwillalsoprovidetheamountoftheextensionfeethatwascollected.Innocaseshalla
closingtakeplaceonanexpiredcontract.
WIREPROCEEDS:YoumustwireproceedstotheUSTreasuryviaFEDWIREthedayofbu
tnotlaterthan
thenextavailablebankingdayafterclosing,ensuringtheamountmatchesthatoftheexecutedHUD‐
1/ClosingDisclosure.TheAssetmanagerwillprovidespecificwiringinstructions,includingtheform tobe
used.
DEEDRECORDING:Youmustensurethedeedisdeliveredforrecordingtotheappropriatecounty
recorder’sofficenolaterthanone(1
)businessdayafterclosing.
NOTIFICATIONOFCLOSING:YoumustnotifytheAssetManagerat4DRecordings@blbresources.comvia
emailonthedaytheclosinghasorhasnotoccurred.
CLOSINGPACKAGE:YoumustdeliveracompleteclosingpackagetoAssetManagernotmorethanthree
(3)businessdaysaftertheclosingiscompleted.Thepostclosingpackageshallinclude:
Page3of4
FinalHUD‐1/ClosingDisclosureandtheCertification;
Copyofthewireofproceedstransferconfirmation;
Evidencethatthedeedwasdeliveredforrecording;
CopyofanyinvoiceHUDpaidatclosing;
Copyofdisbursementlog, accountingforallincomingandoutgoingfundsrelate
dtothis
transaction;and,
Forspecialprogramsales:OriginalNoteandcopyofGNNDorACADeedofTrustorMortgage,
withevidenceitwasdeliveredforrecording.
Submitclosingpackageto:
BLBResources,Inc.
16845VonKarmanAvenue,Suite100
Irvine,CA92606
4DRecordings@blbresources.com
CANCELEDSALE:Ifthesaleiscanceledandisnotimmediatelyrescheduled,thedeedmustbereturnedto
AssetManagerwithintwo(2)businessdays oftheoriginalscheduledclosingdate.Ifthesaledoesnot
closeonthescheduleddate,notifyAssetManagerimmediatelyviaemail(
4DRecordings@blbresources.com)
astothedatetheclosingisrescheduledorifithasbeencanceled.Ifthesalehasnotbeenrescheduledor
iscanceled,theClosingCompanyshallscantheoriginalofthesigneddeed,markedVOIDinlargeletters
acrossthefront,andelectronically deliverittoAssetManagernolat
erthanthesecondbusinessdayafter
aclosingiscancelled.TheoriginaldocumentwillthenbemailedtotheAssetManagerthatsameday,
alongwiththeearnestmoneydepositandextensionfeesthatareinyourpossession.
FORFEITEDEARNESTMONEY:Complywith theearnestmoneyforfeiturepolicythatwassignedbythe
buyer(s
)andispartoftheexecutedsalescontractpackage.Earnestmoneyforfeituresaretobesentto
theAssetManager,payabletoHUD,within4businessdaysoftheearnestmoneydispositionissuedby
theAssetManagerorexpirationofthecontractwhichevershalloccurfirst.
StandardsforAcceptableC
losingCompanies.
BuyerSelectedClosingCompanies(BSCC)mustcertifythattheymeetthefollowingstandards:
1. ABSCCmustbeanattorney,titlecompany,orescrowcompany.Inaddition,anyBSCCmustmeetall
requirementsofstateandlocallaws(e.g.,ifthepropertyisinastatetha
tbansattorneysfrom
conductingaclosing,anattorneymaynotbeusedasaBSCC).
a) Useofattorneys‐AnattorneyorlawfirmmayactasaBSCC,providedthattheyaredulylicensed
topracticelawinthestatewherethepropertyislocatedandstatelawallowsanattorn
eyto
facilitateRealEstateclosings.
b) Useoftitlecompanies‐AtitlecompanymayactasaBSCC,providedthattheyaredulylicensed
todobusinessinthestatewherethepropertyislocated,andareregulatedbytheState
InsuranceCommission,orsimilarregula
toryagencyrecognizedbytheState.
c) UseofEscrowCompany‐AnescrowcompanymayactasaBSCC,providedthattheyareduly
licensedtodobusinessintheStatewherethepropertyislocatedandmeetallstatelegaland
regulatoryrequirementsasarecognizedandregisteredescrowcompany.
Page4of4
2. InsuranceandClosingProtectionLetterrequirement‐AnyBSCCmustbecoveredbyErrorsand
OmissionsInsuranceofatleast$1,000,000.TitlecompaniesshallprovideaClosingProtectionLetter
(CPL)toinsureagainstanyimproperhandlingofHUD'sproceedsordeed.
3. ABSCCmustcompleteaone‐ti
meregistrationtoreceiveaHUDissuedSettlementAgentIdentifier
number.
4. ConflictofInterest‐ABSCCwhohas,orwhosespouse,childrenorbusinessassociateshave,a
financialinterestinthepropertyshallnotbeinvolvedintheclosingprocess.Financialinterest
includeshavinganequity,creditor,le
nder,ordebtorinterestinanycorporation,trust,orpartnership
withafinancialinterestintheproperty.
5. Debarmentorsuspension‐Noattorney,TitleCompany,EscrowCompany,orBSCC,currently
debarred,suspended,orotherwiseexcludedbyAdministrativeActionfromparticipatinginFederal
programs,mayparticipateinanyaspectoftheclosingorti
tleclearanceproces s.
6. Non‐Discrimination‐NoB SCC,employee,orpersonorentityotherwiseauthorizedtoactforaBSCC
agentmayactinviolationofTitleVIIIoftheCivilRightsActof1968(the"FairHousingAct"TitleVIIIor
PublicLaw90‐284)orExe
cutiveOrder11063.BSCC’s,theiremployees,andanypersonorentity
otherwiseauthorizedtoactonbehalfofaBSCCshall(1)refrainfromdiscriminationonthebasisof
race,color,creed,religion,sex,nationalorigin, ageorhandicap;(2)instructtheirstaffsinthepolicies
ofnondiscriminationandallappli
cablelocal,State,andFederalfairhousingandnon‐discrimi nation
laws.
7. FailuretoAbidebyHUD’sClosingInstruction‐HUDreservestherighttosanctionorremoveany
BSCCthatdoesnotabidebyHUD’sClosingInstruction.
Warning:FalsifyinginformationonthisoranyotherformoftheDepartmentofHo
usingand
UrbanDevelopmentisfelony.Itispunishablebyafinenottoexceed$250,000and/oraprison
sentenceofnotmorethantwoyears.(18U.S.C.1010,3559;3571)
Youmustcertifybelowthatyoumeettheabovestandards;youunderstandandwillcomplywiththese
generalin
structionsandrequirements.Subsequentinstructionsmaybeprovidedinwritingonacaseby
casebasisbyHUDthroughitsAssetManager.
Acknowledged____________________________________Date____________________ ___________
PrintedName____________________________________Telephone#_________________________
PrincipalTitle_____________________________________Email______________________________
StateLicense#____________________________________HUDIdentification#__________________
FHA Case # ________________
Additional Escrow Instructions Rev. 5-9-17 Previous editions are obsolete. Page 1 of 4
© BLB Resources, Inc. 2013-2017 All rights reserved.
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.
FHA Case # ________________
Additional Escrow Instructions Rev. 5-9-17 Previous editions are obsolete. Page 2 of 4
© BLB Resources, Inc. 2013-2017 All rights reserved.
• 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
FHA Case # ________________
Additional Escrow Instructions Rev. 5-9-17 Previous editions are obsolete. Page 3 of 4
© BLB Resources, Inc. 2013-2017 All rights reserved.
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.
FHA Case # ________________
Additional Escrow Instructions Rev. 5-9-17 Previous editions are obsolete. Page 4 of 4
© BLB Resources, Inc. 2013-2017 All rights reserved.
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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Completed 9 February 2021

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