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g. When submitting the HUD-1 for approval, the third party entity must also provide the invoices or statemtns substantiating the following: a) Property taxes; b) Homeowner’s association dues, if applicable; c) Homebuyer warranties, if applicable; d) Home inspection fees, if applicable.
h. Please note that if you are closing a loan transaction the spelling/form of the purchaser’s name on the US Dept of HUD Sales Contract must match the loan documents.
i. CHANGES TO HUD-1: Prior to submitting the HUD-1 to Battaglia Law, the third party will ensure the HUD-1 is accurate. Significant and/or numerous amendments to the HUD-1 may result in a delay of the closing, the cancellation of the closing or the rescheduling of the closing.
7. Within forty-eight (48) hours of receipt of the HUD-1 from the third party entity, Battaglia Law shall acknowledge receipt of said HUD-1, review it and advise the third party entity of any issues pertaining to the HUD-1, provided said closing has been schedule in accordance with the provisions set forth herein. Within twenty-four (24) hours of Battaglia’s receipt of the approval fo the HUD-1 from the Asset Manager, Battalgia will provide an emailed copy of the approved HUD-1 to the third party entity.
8. FUNDS FOR CLOSING: THE THIRD PARTY ATTORNEY MUST PROVIDE ALL FO THE FUNDS DUE TO THE SELLER TO THE THIRD PARTY REPRESENTATIVE AT CLOSING.
THE FUNDS MUST BE IN THE FORM OF A CERTIFIED CHECK OR MONEY ORDER MADE PAYABLE TO HUD. HUD WILL NOT ACCEPT ANY OTHER CHECKS, INCLUDING, WITHOUT LIMITATION, THOSE WRITTEN FROM THE THIRD PARTY ATTORNEY’S ESCROW ACCOUNT.
Due to time constraints Battaglia’s representative will not be able to wait after closing for funds to be wired or obtained from the bank. Please make arrangements for your firm to release a certified check to our representative at the time of closing.
IF THE THIRD PARTY ENTITY FAILS TO STRICTLY ADHERE TO THE FUNDING PROVISION SET FORTH HEREIN, THE CLOSING SHALL BE CANCELLED. ANY FILES THAT ARE CANCELLED WILL HAVE TO BE RESCHEDULED ACCORDING TO THE PROCEDURES OUTLINED HEREIN.