TO ALL SELLING AGENTS: WE ARE FINDING A NUMBER OF BUYERS SEEMINGLY UNAWARE OF THE "AS-IS" STATUS OF HUD PROPERTIES. SOME ARE FINDING PROBLEMS WITH THE PROPERTY THEY PURCHASED AFTER THE CLOSING OF THE SALE. PLEASE HAVE BUYER READ AND SIGN THE FOLLOWING AND PROVIDE A SIGNED COPY TO THE CLOSING AGENT AT THE CLOSING OF THE SALE.

 

NOTICE TO BUYERS

 

RE: FHA CASE # __________________,

ADDRESS____________________________________________________________

 

THIS IS AN EXCERPT FROM THE SALES CONTRACT 9548 (1/99), CONDITIONS OF SALE.

"B. SELLER MAKES NO REPRESENTATIONS OR WARRANTIES CONCERNING THE CONDITION OF THE PROPERTY, INCLUDING BUT NOT LIMITED TO MECHANICAL SYSTEMS, DRY BASEMENT, FOUNDATION, STRUCTURAL, OR COMPLIANCE WITH CODE, ZONING OR BUILDING REQUIREMENTS AND WILL MAKE NO REPAIRS TO THE PROPERTY AFTER EXECUTION OF THIS CONTRACT. PURCHASER UNDERSTANDS THAT REGARDLESS OF WHETHER THE PROPERTY IS BEING FINANCED WITH AN FHA-INSURED MORTGAGE, SELLER DOES NOT GUARANTEE OR WARRANT THAT THE PROPERTY IS FREE OF VISIBLE OR HIDDEN STRUCTURAL DEFECTS, TERMITE DAMAGE, LEAD-BASED PAINT, OR ANY OTHER CONDITION THAT MAY RENDER THE PROPERTY UNINHABITABLE OR OTHERWISE UNUSABLE. PURCHASER ACKNOWLEDGES RESPONSIBILITY FOR TAKING SUCH ACTION AS IT BELIEVES NECESSARY TO SATISFY ITSELF THAT THE PROPERTY IS IN A CONDITION ACCEPTABLE TO IT, OF LAWS, REGULATIONS OR ORDINANCES AFFECTING THE PROPERTY, AND AGREES TO ACCEPT THE PROPERTY IN THE CONDITION EXISTING ON THE DATE OF THIS CONTRACT. IT IS IMPORTANT FOR PURCHASER TO HAVE A HOME INSPECTION PERFORMED ON THE PROPERTY IN ORDER TO IDENTIFY ANY POSSIBLE DEFECTS."

I AM AWARE THAT HUD WILL NOT MAKE ANY REPAIRS TO THE PROPERTY AFTER CLOSING.

 

______________________________, PURCHASER, DATE_____________

______________________________, PURCHASER. DATE_____________