How to Prepare & Submit Contracts
If you submit a bid on a HUD-Owned property and your bid has the highest acceptable net, you will receive a notification from hudhomestore.com that your online offer has been “provisionally accepted.” It is imperative that you quickly and accurately submit the required contract documents to the designated office location as specified in the information provided to the Selling Agent.
If you submit a bid through BidSelect for a non-HUD purchase or rental property, you may receive an email notification that your online offer has been accepted or acknowledged as the winning offer. It is imperative that you quickly and accurately submit the required contract/lease documents and associated fees, if any, to the designated office location as specified in the offer confirmation provided to the Selling Agent.
General directions for preparing and submitting your sales contract/lease package are below. Please contact the Listing Broker or our National Customer Service center at 1-800-934-3009 if you have questions. You may access our “Fillable Contract” feature for HUD contracts by clicking here.
Contract Sales Package for HUD-Owned Properties
When your buyer’s offer is “provisionally accepted” by hudhomestore.com:
The Selling agent has a maximum of 2 business days to deliver a complete and accurate sales contract & addenda package (Sales Contract Package) to the designated First Preston HT Regional Office. The Sales Contract Package must include the HUD-9548 Sales Contract, all required addenda and the certified earnest money. If the purchaser is an Investor or Non-Profit/Government Agency with an EIN and company name entered in the contract, please include the Article of Incorporation.
You may generate a HUD-9548 Sales Contract Package for your buyer’s winning bid by using our “fillable” contract package available here. Minimize error by entering bid information online. Save, Edit and Print features give you the flexibility to make changes quickly and print the entire package or specific pages for final signatures. Our contract entry tool will generate all required addenda for your buyer’s Sales Contract Package. If you choose not to use the contract tool, be sure to submit a complete and accurate Sales Contract Package to the appropriate First Preston HT Regional Officer.
If you need a specific form or revision to a form, click here for Forms & Instructions.
Contract packages should be submitted to the following First Preston HT Regional Offices
Attn: HUD Contract Review
| For states of: IL, IN, KY, TN, NC, SC send to: 1283 Murfreesboro Pike, Suite 200 Nashville, TN 37217 1A Phone: (866) 971-2214 |
For states of: AL, FL, GA, MS, PR, US VI send to: 1283 Murfreesboro Pike, Suite 200 Nashville, TN 37217 2A Phone: (866) 971-2214 |
| For states of: CO, NM, N. TX, UT send to: 5040 Addison Circle, Suite 300 Addison, TX 75001 1D Phone: (866) 971-2212 |
For states of: AR, KS, LA, MO, S. TX, OK send to: 5040 Addison Circle, Suite 300 Addison, TX 75001 2D Phone: (866) 958-2374 |
| For states of: OH, PA, VA, WV, MD, DE, DC send to: 405 Silverside Road, Suite 210 Wilmington, DE 19809 2P Phone: (866) 971-2109 |
Disclaimer
A binding contract is subject to timely receipt of a properly completed and signed HUD-9548 form and satisfaction of all other necessary HUD preconditions and requirements to a contract for purchase of real estate. Contracts are not considered binding until execution and delivery of the contract to the purchaser or the purchaser’s agent. If required or requested documents are not received in proper form within the timeframe provided, First Preston HT reserves the right to deem the offer “non-responsive” and re-list the property for bidding. No bid acknowledgment is final, nor is the offer “accepted,” until all required documentation is received by the Regional Office AND the Sales Contract has been signed (ratified) on behalf of HUD. Late or incomplete contract packages are always subject to rejection, and occasionally a property may be withdrawn from the market before the Contract is ratified, canceling or voiding the bid. HUD reserves the right to cancel bid acknowledgment prior to Contract ratification for any reason.
Sales Contract/Lease Package for Non HUD-Owned Properties
When your buyer’s offer is acknowledged as accepted through BidSelect:
The Selling agent typically has a maximum of 48 hours to deliver a complete and accurate sales contract/lease package to the designated office location. Check the property page on BidSelect for contract/lease documents that may have been provided by the Listing Agent for the property. Contact the Listing Agent directly, as needed, to ensure that you are submitting all required documents and leasing fees, if any.
Disclaimer
A binding contract is subject to timely receipt of a properly completed and signed sales contract/lease agreement and satisfaction of all other necessary preconditions and requirements to a contract for purchase or lease of real estate. Contracts are not considered binding until execution and delivery of the contract to the purchaser or the purchaser’s agent. If required or requested documents and leasing fees, if any, are not received in proper form within the timeframe requested, First Preston HT or the seller’s representative, i.e. the Listing Broker/Agent for the property reserves the right to deem the offer “non-responsive” and re-list the property for bidding.
