Hud Homestore Contracts

[Juan S.]

Is anyone familiar with the way Hudhomestore.com handle contracts?

I'm hearing that earnest money have to be sent to the listing agent before a contract is signed.

This is not typical right?

Is this a requirement for hud foreclosures?

[Greg H.]

@Juan S.

Yes this is a requirement with HUD. HUD must have the EM and any other required documentation such as POF before generating the contract via Docusign. Until the Docusign package is completed by all parties and executed by HUD, your earnest money will return if you fail to complete the process