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HUD Home Inspection FormBy K. Michelle Lind |
QUICKLINKS
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The 2005 AAR Residential Resale Real estate Contract in includes a provision in the financing section addressing the FHA Notice “For Your Protection: Get a Home Inspection.” The contract states at Section 2k: FHA Notice (FHA Buyer Initials Required): HUD does not warrant the condition of the property. By initialing below, Buyer acknowledges receipt of Form HUD-92564-CN, “For Your Protection: Get a Home Inspection.” Buyer further acknowledges that such form was signed at or before the Contract date. Signed HUD-92564-CN is attached and made a part of this Purchase Contract.
FHA thereafter revised the form and eliminated the requirement that the form be signed by the buyer.The current form is available at: www.hud.gov/offices/adm/hudclips/forms/files/92564-cn.pdf.
However, Mortgagees are required to provide the form to buyers at first contact. See: www.mortgagebankers.org/files/News/InternalResource/45777_MortgageeLetter06-27.pdf.
Contract Section 2k will be modified when the AAR Contract is revised. Until that time, buyer’s agents can: (1) ask their buyers to sign the form and attach it to the Contract; or (2) strike: “Buyer further acknowledges that such form was signed at or before the Contract date. Signed HUD-92564-CN is attached and made a part of this Purchase Contract.” If you have questions, talk to your broker or manager. K. Michelle Lind, Esq. K. Michelle Lind is General Counsel/Assistant CEO to the Arizona Association of REALTORS® (AAR). She serves as the primary legal advisor to the association. Michelle oversees AAR’s Risk Management Committee, which includes professional standards administration for twenty of the state’s local REALTOR® associations, and the development of standard real estate forms. She is the author of Arizona Real Estate: A Professional’s Guide to Law & Practice and a regular contributor to the Arizona REALTOR® and the Arizona Journal of Real Estate & Business. Please note that this article is of a general nature and may not be updated or revised for accuracy as statutory or case law changes following the date of first publication. Further, this article reflects only the opinion of the author, is not intended as definitive legal advice and you should not act upon it without seeking independent legal counsel. | ||||||||||||
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