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Introducing E-Signatures on HUD Contracts - UPDATED

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For the first time ever, HUD is implementing E-Signatures on the HUD 9548 Sales Contract. This presentation helps explain this new process, from setting up the E-Signer information to contract execution.

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Introducing E-Signatures on HUD Contracts - UPDATED

  1. 1. Introducing E-Signatures on HUD Contracts © Sage Acquisitions 2017 All rights reserved. Rev. 10.13.2017 – all previous versions are obsolete.
  2. 2. Tips • When an agent places a bid on the HUD Homestore, additional information is required that was not previously requested • Make sure all information is accurate to avoid delays • Read all the instructions and follow up timely • Read all emails from DocuSign, HUD Homestore and Sage Acquisitions for a smooth process © Sage Acquisitions 2017 All rights reserved. Rev. 10.13.2017 – all previous versions are obsolete.
  3. 3. The agent placing the bid must also make sure that the E-Signature Signer Information is accurate for who will sign for them as the Broker. © Sage Acquisitions 2017 All rights reserved. Rev. 10.13.2017 – all previous versions are obsolete.
  4. 4. BIDDING ON HUD HOMES WITH E-SIGNATURES Next Step: © Sage Acquisitions 2017 All rights reserved. Rev. 10.13.2017 – all previous versions are obsolete.
  5. 5. Adding the Buyer Select Closing Company As you type in the Buyer Selected Closing Company Name, a dropdown list of closing companies already established with a Title ID will appear. © Sage Acquisitions 2017 All rights reserved. Rev. 10.13.2017 – all previous versions are obsolete.
  6. 6. Closing Companies without an Established Title ID If the closing company name and location they want to use is listed, go ahead and choose it from the drop down. Choosing from the dropdown will auto-populate the other cooresponding information that HUD has on file for the company © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  7. 7. What if the closing company is not listed in the drop down? If the company location is not listed, continue typing and complete the fields with the company information. A Title ID will be established for the closing agent. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  8. 8. BID ACCEPTANCE Next Step: © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  9. 9. Bid Acceptance Emails Agents with bids awarded that are eligible to use the E-signature process will receive two emails from do-not-reply@HUDHomestore.com. •Email #1: Selling Broker Bid Acceptance Notice •Email #2: Bid Acceptance Final Verification © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  10. 10. Review Submission & Upload Earnest Money • Upon receipt of the Bid Acceptance Final Verification Email, the agent who placed the bid on the HUD Homestore should log back in to their account and review/edit/verify all information submitted. • At this time, they MUST also upload a copy of earnest money check that they have delivered or will deliver to the listing broker’s office before the Asset Manager (Sage Acquisitions) can take the next step. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  11. 11. After Your Bid is Accepted Log into your HUD Homestore Account and click Accepted Bids. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  12. 12. Once in Accepted Bids, click Checklist on the right. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  13. 13. Keep or edit the Designated Broker If using your Broker, ensure they are aware an email is coming and they must digitally sign. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  14. 14. Check Verify Purchaser box, then click Save Purchaser Changes. Keep or edit the Purchaser Information. This email address is where the E-Signature will be emailed. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  15. 15. Keep or edit the Closing Attorney Information. This is where the E-Sig will be emailed. Check Verify Title/Buyers Select box, then click Save Title Changes. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  16. 16. If there is no conflict, click Save All Changes. Conflict of Interest This is a 2nd chance to confirm there isn’t a conflict of interest. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  17. 17. Once all the steps are completed and all information is verified as accurate. Load an image of the Earnest Money at the bottom of the page and click Save All Changes. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  18. 18. Delivering Buyer’s Loan Letter or Proof of Funds • The actual certified funds EMD check, payable to closing agent company chosen, must still be delivered to the listing broker’s office within 2 days of Bid Award. • Along with the earnest money, the buyer’s agent needs to provide to the listing broker a copy of the buyer’s loan letter or proof of cash funds. • Without the listing broker confirming receipt of a valid earnest money check, and without the loan letter or POF, Sage Acquisitions cannot generate the E-signature envelope. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  19. 19. THE E-SIGNATURE ENVELOPE Next Step: © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  20. 20. Reviewing the Contract Package • Once Sage Acquisitions is able to generate the E-signature envelope, the agent who placed the bid on HUD Homestore will receive an email from dse@docusign.net to review the contract package before signatures are requested. • The agent WILL NOT sign anything at this time; they are reviewing the package for accuracy. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  21. 21. Approving the Contract Package for Signatures Once they click on “Finish” and confirm that the package is ready for signatures, emails are sent from dse@docusign.net to the parties needing to sign in the following order: 1.Broker-Designated Signer 2.Buyer/s (simultaneous if multiple buyers) 3.Buyer selected closing company escrow officer 4.Sage Acquisitions © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.
  22. 22. Next Step: Contract Execution Once Sage Acquisitions has signed the contract and executed the file, all parties who signed the package will receive another email from dse@docusign.net with a copy of the fully signed package. © Sage Acquisitions 2017 All rights reserved. Rev. 10-13-2017 – all previous versions are obsolete.

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