Forgot deposit on HUD contract

[Mike Nelson]

I forgot to enclose the deposit check in my HUD contract package (DOH!) Airhead mistake, had everything put in the envelope, come back home to find out the check is still on my desk. Does HUD reject completely if you forget the deposit, or will they give you a 2nd chance to send it in? I have had the chance to make corrections on previous HUD homes when things were missing, or errors were made on the contract.

[John Rogers]

No, NO, No!

The check does NOT go to HUD (read that as PEMCO, HomeTelos, etc.)

The EMD check goes to the LISTING BROKER!!!!

In the contract package you were instructed to send the EMD check to them, and how it should be made out... Example: "Florida Trust Realty, LLC OR Central Florida Title, LLC".

They are typically made out to the listing agent AND the title company with the word "OR" between them.

You will get a notice about non-compliance and have a day to drop off the EMD check.

Good luck...