- for cash sales, within 30 Days of contract ratification;
- for sales involving mortgage financing, within 45 Days of contract ratification; and
- for sales involving a 203(k) product, within 60 Days of contract ratification.
- submitting the request for an extension in writing; and
- if applicable, including an extension fee for the full amount of the requested 15-Day extension, in the form of certified funds payable to HUD.
When closing does not occur as scheduled and the buyer has not requested and received an extension of time to close, the AM will cancel the sales contract.
For additional information please contact the Asset Manager with jurisdiction over the property. To locate contact information for the Asset Manager please visit the HUD Homestore website at http://www.hudhomestore.com/ and click “Help” in the gray tool bar.
For policy information see Handbook 4000.1 Section IV.B.2.k.ii. at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh