FHA/ HUD Homes require a completely different set of forms to be used. Be sure to ask your Real Estate Professional the following questions..

• How many sucessful HUD home transactions have you closed?
• Are you a HUD certified Real Estate Broker?
• Are you a Buyer’s Agent?
• What happens to my earnest money
• Should I have an inspection on the property?
• Is there a difference what type of financing I am approved for?

Buying a HUD owned home is completely different than any other transaction. The rules are different, the forms are different, and the properties have all been left empty. Make sure that your bank account doesn’t become empty also. Your choice of Real Estate Professionals does matter!

The following documents are required on HUD transactions:

HUD Sales Contract this contract needs to be 100% correct or HUD will reject it. Here is a copy of a completed contract

All contracts also require the General Addendum. Note especially the terms regarding inspection and earnest money.

If the property has been found to contain Lead Based Paint the listing will include a special LBP form.

Radon, Mold and Environmental Contaminants. here is the form

It is always a good idea to have a home inspection. HUD has you sign a form detailing your rights to have one. 

HUD homes provide special treatment for Owner Occupants, here is the owner ocupant certification form

Other forms may be required, check with your HUD certified real estate professional.

Call Imagine Real Estate at 748-3000 for information on Bank Owned Property in Fort Wayne. FortWayneREOS.com is your source for info on Bank Owned Foreclosures in the Fort Wayne, Indiana Area.

Imagine Real Estate is a HUD certified broker for Indiana. Call us today at 260-748-3000 for information on HUD owned homes in Indiana.

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