HUD and REO Sale Agreement FormsReo Sale Agreement • September 1st, 2011
Many homes now on the market have been acquired via foreclosure by lenders (REO or real estate owned) or the Department of Housing and Urban Development (HUD). Lenders selling REO homes typically insist that the sale agreement include a lengthy standard form that heavily favors the seller. HUD requires the use of its own “Sales Contract” form. Usually the seller in such sales allows little or no room for alteration of their standard form agreement or addendum.
