Offer Packages Overview
HUD CONTRACT PACKAGES MUST BE SUBMITTED WITH:
- Proof of Cash AND/OR Pre-Approval Letter
- Certified, earnest deposit funds of $500 ($50,000 or less), $1,000 ($50,001 or more) payable to HUD
- Contracts must be in BLUE ink.
- HomeTelos days to close: 30 (Cash); 45 (All Financed Offers)
- Pemco & Ofori days to close: 45 (cash and all financed offers with one exception, 203k or streamline contracts will close in 60 days)
- All packages due within TWO (2) business days of Bid Award date
HomeTelos (ONLY) Fillable Contract Package Instructions:
- Access through www.HomeTelosFirst.com
- Click on “My Account” (If you don’t have an account, set on up. It’s FREE!)
- Log in, Click on “My Contracts”, Click on “Create New Contract”
- Enter HUD Case Number (must be listed by HomeTelos & on HUD Homestore), click “Enter”
- Enter bidding data and click “Save”
- You will have an option to edit, print, or delete. If correct, click “Print”
- Choose HUD 9548 Sales Contract and Addenda
When filled out completely, mail to:
HomeTelos HUD Packages
ATTN: 2A Contract Review
1283 Murfreesboro Pike, Suite 200
Nashville, TN 37217
866.971.2214
OFORI HUD Contract Package
Download Ofori HUD Contract Package PDF
When filled out completely, mail to:
Ofori HUD Packages
2000 RiverEdge Parkway, Suite 300
Atlanta, GA 30328
877.667.9022
Pemco (ONLY) Fillable Contract Package Instructions:
- Go to www.HUDPemco.com
- Click on “Forms”
- Click on “2A”
- Click on the appropriate contract package that applies to your buyer.
- Enter all fields as you will enter them in HUD Homestore. Click “Print”.
When filled out completely, mail to:
PEMCO HUD Packages
7000 Central Park Suite 800
Atlanta, GA 30328
800.881.9260
Other REO Packages:
When filled out completely, email FDIC and OneWest Bank Packages to: Offers@100REO.com
US Army Corp of Engineers Offer Package
HOME INSPECTIONS ON HUD PROPERTIES
If the buyer elects to have a home inspection, utilities must be activated in the name of the buyer(s) for a period not to exceed 48 hours from the approval of a utility activation request form from the Field Service Manager (FSM). Each FSM requires a utility activation/home inspection authorization form that must be submitted to the FSM with the appropriate fees, insurance, and additional documentation outlined in the activation request form PRIOR to utility activation.
EXTENSIONS ON HUD PROPERTIES
The sales closing is expected to occur within the timeframe specified on line 9 of the HUD 9548 Sales Contract. Should the buyer not be able to meet the contract expiration date, the selling agent is responsible for preparing a 15 day extension form; collecting an appropriate extension letter from the lender; collecting certified extension funds from the buyer; and forwarding them to the closing agent no later than 5 days before the contract expiration date. Submission of an extension request does not mean the extension is approved. All extension approvals are at the discretion of the HUD AM.
CONTRACT RELEASES ON HUD PROPERTIES
Should your buyer wish to cancel their purchase, they should be aware that each HUD AM has a contract release and earnest money disposition request form that must be submitted before the contract expiration date. Any buyer(s) of a HUD owned property must complete, sign, and submit a release form to the designated HUD closing agent with proper supporting documentation from a lender, certified home inspector, or other written verification as stipulated by each AM. Submission of the contract release form and its supporting documentation does not mean that the buyer(s) will receive any portion of the escrow deposit back. Escrow release is at the discretion of each HUD AM.
Questions, complimentary review of your full sales contract package, requests for additional forms, FSM applications, or a request for a complimentary Successfully Selling HUD Homes handbook should be emailed to: CustomerService@100REO.com
