Rider to Contract of Sale (HUD/FHA or VA Appraisal Contingency)

RIDER TO CONTRACT OF SALE
HUD/FHA or VA APPRAISAL CONTINGENCY
In regards to the purchase of Premises known as
,
the Undersigned specifically and expressly agree that, notwithstanding any other
terms, conditions and/or provisions of this Contract of Sale to the contrary,
Purchaser shall not be obligated to complete the purchase transaction
contemplated by the Contract of Sale for the Premises or to incur any penalty of
any nature whatsoever or forfeit the deposit made pursuant to the terms,
conditions and/or provisions of this Contract of Sale unless Purchaser has
received, in accordance with the requirements of HUD/FHA or VA, a written
statement issued by the Federal Housing Commissioner, Veterans
Administration or by a Direct Endorsement Lender stating that the appraised
value of the Premises is not less than $ .
In the event that Purchaser fails to obtain said written statement, Purchase shall
have the sole option of proceeding with this transaction regardless of the
appraised value statement. The appraised value statement is utilized in
determining the maximum mortgage amount that the Department of Housing and
Urban Development (“HUD”) will insure. HUD does not warrant the condition or
the value of the Premises.
Dated:
PURCHASER: SELLER:
_____________________________ _____________________________
_____________________________ _____________________________
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Rider to Contract of Sale (HUD/FHA or VA Appraisal Contingency) PDF

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