What Closing Costs Will HUD Pay?

Posted by WILMOTH Group on August 20, 2021
What Closing Costs Will HUD Pay?

When preparing line 5 of the Sales Contract, you will be able to request up to 3% of the bid amount for closing costs over and above those to be paid by HUD. These closing costs can include most costs associated with a buyer obtaining financing or closing the transaction. 

Please include in your calculations that HUD will not pay the cost of title insurance or the settlement. Therefore, these costs could be included in any request on line 5.

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WILMOTH Group is headquartered in Indianapolis, Indiana and Fort Myers, Florida. We focus on providing creative local solutions for a variety of residential real estate needs including, properties for sale, property management services in Indianapolis, and short-term management services in Tampa and Fort Myers.