HUD Buyers Select Program Begins October 1st

Sep 24, 2013 Realtor Resources Share:

Beginning October 1, Buyers in Alabama may choose their own closing agent to conduct the closing for a HUD owned property. The closing agent must be named in the contract to HUD for approval. We would like you to name “South Oak Title & Closing, LLC” in all of your contracts. South Oak can provide title and closing in all counties in the State of Alabama. To learn more or get started call our offices at (205) 983-8100.

Facts About HUD Closings

  • HUD contracts must be executed in blue ink and signed by the Broker.
  • Broker bonuses must be submitted with the HUD contract.
  • HUD requires a pre-closing package submitted no later than five business days prior to the scheduled closing date.
  • The Closing Agent holds the earnest money.
  • Buyers receive a special warranty deed at closing.