HUD Closing Agent and

Buyer Select Transactions

 

Our office has been selected as the Closing Agent for the U.S. Department of Housing and Urban Development (HUD) for its Iowa properties. As you can imagine, since HUD sells homes throughout the entire country, there are some very specific rules regarding their closings, and some of them might be a bit different than a typical transaction.

 

HUD sales in Rock Island, Mercer, Whiteside, and Henry counties in Illinois are now conducted under a program called Buyer Select. What this means is that the buyer selects the closing agent for the transaction. As noted, HUD has many rules involving how the earnest money is held, preparation of documents, transmittal of funds to HUD, extension fees, documentation of expenses, etc., etc., and etc.

 

Since we have done more than 3,000 HUD closings, we have the experience to ensure that your closing goes smoothly. We would be happy to assist you in your HUD purchase. Simply select our office when you complete your contract.

1523 52nd Avenue, Moline, Illinois 61265, Telephone 309.736.3117, Facsimile 309.736.3143