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HUD timeline with new e-signature
The timeline to get your paperwork into HUD used to be 48 hours. Now, with the new e-signature, what's the timeline? Here's what I have going on: I placed a bid and got a counter-offer today (Wednesday). If I accept the counter offer, I will basically get it accepted by HUD tomorrow (Thursday). I want to have a little time to finalize my inspections before the e-signatures are due. Will the e-signatures be due on Friday or Monday? I'm hoping for Monday so that I will have the week-end to do some more inspections. Actually, Monday is a holiday, so it would give me till Tuesday if my thinking is correct.
If they accept your counter (if someone does come in higher they will still take the other one). You will have 48 hours to upload the POF and the EMD check to the website and deliver the check to the listing office (They have to record they got it). Then they will send out all of the contracts for the broker/agent/buyer/attorney to e-sign. The contract still has a DD period (I think 7 days for investors) where you can cancel.
Good Luck!
You have 2 days to verify the bid when using the E sig. There is an Accepted Bid tab on the top of the Hudhomestore site. In order to complete the verification, you have to deliver the Earnest Money to the listing agent and they will email to you the form acknowledging that the email has been received. You will not receive the Esig package until all of that is done. So basically you still have the same 48 hours to get the EM to the listing broker
You can still submit the old fashioned way as well
I hope that mean 2 business days to turn in the Ernest money. So if the accept my offer tomorrow (thursday) I will have till Monday? And Monday is a holiday so will I have till Tuesday?
Originally posted by @Bryan L.:
I hope that mean 2 business days to turn in the Ernest money. So if the accept my offer tomorrow (thursday) I will have till Monday? And Monday is a holiday so will I have till Tuesday?
Correct