New E-Signature procedure for HUD Sales Contracts and Addendums
HUD is transitioning to electronically signed documents. Technology from DocuSign is being used for this transition –https://www.docusign.com/industries/real-estate. This change should speed up the contract process and increase the ability to track who has and hasn’t signed the contracts.
As part of this transition, more information will be required when placing bids on HUDHomestore.com. This will include the name, address, cell phone number, and email addresses for:
- The Selling Broker who will sign the contract
- Up to 4 Buyers
- The Closing Agent
If necessary, this required information can be changed once the bid is accepted. The new e-signature sales contract will need accurate email addresses for all parties since sales contracts will be sent to those email addresses for electronic signing.
AMs will initiate the generation of the E-Signature process. The signers will then be contacted at their email address to digitally sign the contracts.
FOR MORE INFORMATION AND VIDEO TUTORIALS, CLICK HERE.