Sales contracts, may be accepted with electronic signatures by buyers and brokers when they are in compliance with the required guidelines. The electronic signatures should be authenticated with a number or statement that it was digitally signed along with the date it was signed. An indication of the electronic signature and date should be clearly visible when viewed electronically and in a paper copy of the electronically signed document.
In order to qualify as an electronic signature under the ESIGN Act and UETA, the system used to capture the transaction must keep an associated record that reflects the process by which the signature was created, or generate a textual or graphic statement (which is added to the signed record) proving that it was executed with an electronic signature.
*Often, part of the electronic signature is covering up the purchaser’s name on line 13 of HUD contract. Brokers need to either adjust the size of the electronic signature or move it over to the right or below the buyer’s printed name.
Are your clients looking to close quick? Need to speed up your HUD Home closing? Don’t stress. We are here to help. Use our HUD closing lien worksheet to ensure a smooth and FAST closing. This document will help guide the buyers broker, buyers attorney and title company through the pre-closing steps.
Once you have liens that need to be paid.Go to “Lien Payoff Request Form” under the tab “For Attorney/Title” Make sure you upload doc’s to correct asset manager.
Click Here For HUD Closing Lien Worksheet
Introduction To HUD Homes
Buyers can now choose who they will use as a closing agent (Title Company)
This is a great thing. Here’s why:
1)The buyers attorney will now be responsible for obtaining liens and requesting HUD to pay them off prior to closing.
2)The buyers attorney/title will be responsible for getting transfer stamp prior to closing.
3)The buyers attorney will need to file any/all extensions with asset managers.
What is your responsibility on a HUD deal? Turn in complete and correct contract package and go sell more homes!
On www.ChaseHomeStore.com you will find under tab “For Brokers” contract package. Make sure you are using these!
There is a tab “Title” – make sure you let attorney and title company know of this website. There are a number of documents and forms that will help speed up the closing process. (If you don’t let them know about this helpful site – it could delay closing)
HUD – Key Questions Answered Here:
HUD requires on Sales Contract line 2. Title will be taken in following names and "Style". By "Style" they are referring to the type of tenancy. Here … More >
If a property is missing from www. HUDHomeStore.com it is: Under Review- Home will still show active (ACTV) in MLS, the asset manager is … More >
Effective July 2, 2018, NAID certifications and recertifications must be submitted through HUD’s new automated online service (known as … More >
We have made it simple to complete a HUD contract package. If you have any questions please do not hesitate to call for assistance - we are here to … More >
Agents who place bids at HUDHomeStore.com can login to their account and through the "Bidder Functions" link can search the status of all bids. On the … More >
You sold a HUD Home and need to know who the Field Service Manager (FSM) is for property. You will notice home is removed from HUDHomeStore.com … More >
The process to get utilities turned on for a Home Inspection or Appraisal is rather simple. Here are a few steps to follow: Step 1- You must have … More >
How do you finance a HUD Home? 203(k) Streamline - That's How! This loan program is available to owner occupants and most HUD Homes will qualify … More >
The contract expiration date can be extended through the extension request process after contract ratification/execution. It’s the selling agent’s … More >
Real Estate Brokers - Find the answers you need quick! Click Here FAQ's for real estate brokers. … More >