FHA AMENDATORY CLAUSE Sample Clauses

FHA AMENDATORY CLAUSE. If Purchaser applies for and obtains a commitment for an FHA-insured loan, then, notwithstanding any other provisions of this Agreement, Purchaser shall not be obligated to complete the purchase of the Property or to incur any penalty, by forfeiture of ▇▇▇▇▇▇▇ money or any other deposit, or otherwise, unless Purchaser has been given, in accordance with HUD/FHA requirements, a written statement by the Federal Housing Commissioner or a Direct Endorsement lender setting forth the appraised value of the Property of not less than $266,990.00. Purchaser shall have the privilege and option of proceeding with consummation of the Agreement without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development will insure. HUD does not warrant the value or condition of the Property. Purchaser should satisfy himself/herself that the price and condition of the Property are acceptable.

FHA AMENDATORY CLAUSE. “It is expressly agreed that, notwithstanding any other provisions of this contract, the purchaser shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture of ▇▇▇▇▇▇▇ money deposits or otherwise unless the purchaser has been given in accordance with HUD/FHA or VA requirements a written statement by the Federal Housing Commissioner, Department of Veterans Affairs, or a direct endorsement lender, setting forth the appraised value of the property of not less than $ . The purchaser shall have the privilege and option of proceeding with the consummation of the contract without regard to the amount of the appraised valuation. THE APPRAISED VALUATION IS ARRIVED AT TO DETERMINE THE MAXIMUM MORTGAGE THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WILL INSURE. HUD DOES NOT WARRANT THE VALUE NOR THE CONDITION OF THE PROPERTY. THE PURCHASER SHOULD SATISFY HIMSELF/HERSELF THAT THE PRICE AND THE CONDITION OF THE PROPERTY ARE ACCEPTABLE.” Buyer Signature Date Builder Signature Date Buyer Signature Date Builder Signature Date Broker/ Selling Agent Date Broker/ Listing Agent Date Buyer Signature Date Builder Signature Date Buyer Signature Date Builder Signature Date 126 127 128 129 130 VA GUARANTEED MORTGAGE LENDER PROCESSING FEES: Builder agrees to pay the VA Commitment Fee and the VA Closing Fee, if applicable, which the lender cannot charge to Buyer, not to exceed $ . This amount is in addition to Builder’s Contributions to ▇▇▇▇▇’s Costs, if applicable. 131 132 133 134 135 136 137 138 139 FMAAR: BUYER NCPA-3 (REV 12/18) BUILDER DATE 141 REAL ESTATE TAXES (general, drain, and maintenance fees): Based upon X gross discounted eXsXtimXaXteXd taxes for the year 20_1_8 from the Assessor to be paid as follows: At closing, Builder to pay (check one) none of all prorated to the date of closing X prorated to the date Contract the real estate taxes based on the year specified above. In the event the closing date is changed, the real estate taxes paid, if prorated to the date of closing, shall be adjusted to the new closing date. 142 143 144 145 146 X Buyer and Builder shall prorate as of 1-1-19 all installments of special assessments due and payable for the year of closing. (All per public record) UNCERTIFIED (balance unpaid + interest): There are none X Buyer shall assume approximately $ , $ plus interest. WORK IN PROGRESS/PENDING/PROPOSED: There are none X Buyer shall assume approximately $All per public record Builde...

FHA AMENDATORY CLAUSE. It is expressly agreed that notwithstanding any other provisions of this contract, the purchaser shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture of ▇▇▇▇▇▇▇ money deposits or otherwise unless the purchaser has been given in accordance with HUD/FHA or VA requirements a written statement issued by the Federal Housing Commissioner, Department of Veterans Affairs, or a Direct Endorsement Lender, setting forth the appraised value of the property of not less than SAMPLE

FHA AMENDATORY CLAUSE. It is expressly agreed that, notwithstanding any other provisions of the Contract and this supplement, the Buyer shall not be obligated to complete the purchase of the Property described herein or to incur any penalty by forfeiture of ▇▇▇▇▇▇▇ money deposits or otherwise unless ▇▇▇▇▇▇ has delivered to the Buyer a written state- ment issued by the Federal Housing Commission or Direct Endorsement Lender, setting forth the appraised value of the Property (excluding closing costs) of not less than $ 200000.00 which statement the Lender hereby agrees ____________________ to deliver to the Buyer promptly after the appraised value statement is made available to the Lender. The Buyer shall, however, have the privilege and option of proceeding with the consummation of the Contract without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development (HUD) will insure. HUD does not warrant the value or the condition of the Property. The Buyer should satisfy himself/herself that the price or condition of the Property is acceptable.

FHA AMENDATORY CLAUSE. It is expressly agreed that, notwithstanding any other provisions of the Contract and this Agreement, the Buyer shall not be obligated to complete the purchase of the Property described herein or to incur any penalty by forfeiture of ▇▇▇▇▇▇▇ Money deposits or otherwise unless Lender has delivered to the Buyer a written statement issued by the Federal Housing Commission or Direct Endorsement Lender, setting forth the appraised value of the Property (excluding closing costs) of not less than $ which statement the Lender hereby agrees to deliver to the Buyer promptly after such appraised value statement is made available to the Lender. The Buyer shall, however, have the privilege and option of proceeding with the consummation of the Contract without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development (HUD) will insure. HUD does not warrant the value or the condition of the Property. The Buyer should satisfy himself/herself that the price or condition of the Property is acceptable.

FHA AMENDATORY CLAUSE. It is expressly agreed that notwithstanding any other provisions of the Purchase Agreement, Buyer shall not be obligated to complete the purchase of the Property described herein or to incur any penalty, whether by forfeiture of ▇▇▇▇▇▇▇ money deposits or otherwise, unless Buyer has been given, ____________________ in accordance with HUD/FHA or VA requirements, a written statement by the Federal Housing Commissioner, Department of Veterans Affairs, or a Direct Endorsement Lender setting forth the appraised value of the Property of not less than $ (sales price in Purchase Agreement; increases to the sales price require a revised amendatory clause). Buyer shall have the privilege and option of proceeding with consummation of the contract without regard to the amount of the appraised valuation. The appraised value is arrived at to determine the maximum mortgage the Department of Housing and Urban Development will insure. HUD does not warrant the value or condition of the Property. ▇▇▇▇▇ should satisfy himself/herself that the price and condition of the Property are acceptable.