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Carolyn Macc…, Home Buyer in Las Vegas, Las Vegas,...

how to cancel a hud sale?

Asked by Carolyn Maccombie, Las Vegas, Las Vegas, NV Sun Jan 15, 2012

closing is longer than the 45 days

Help the community by answering this question:


Hi there
I know your question was about cancelling the deal, and that can be accomplished, however if we could save the deal and close, would you be interested? I have been lending for over 15 years and am confident we could close this within 2 weeks. That's if you still want to proceed.
If so, or if you have any other questions, let me know. I'm happy to help.
Aundrea Beach-Greco
RMS & Associates
(702) 326-7866
1 vote Thank Flag Link Mon Jan 30, 2012
That would depend on where you are at in respect to your sale and what you or your agent did to prepare for the possibilty of canceling the sale. Do you have an agent representing your interest in the transaction? If so you should discuss your options with your agent.
Web Reference:
1 vote Thank Flag Link Sun Jan 15, 2012
The form of the contract is called - Notice to purchaser and acknowledgement. It explains the reason you can cancel and on what terms will 100%, 50% or none of the earnest money be returned. Have your agent give you a copy of everything you signed.
0 votes Thank Flag Link Mon Jan 30, 2012
Is the delay your fault or HUD's fault? Have you filed any extension forms? Call your realtor and find out, read the cancellation addendum to the HUD contract to find out if you earnest money is on the line as well.
0 votes Thank Flag Link Mon Jan 30, 2012
Whose at fault for the closing taking longer than 45 days. If it is HUD, have your Broker or Agent provide the cancellation form and cancel the deal.

Jeffrey Sklar
Property Manager
2012 Vice Chair GLVAR Property Management Committee
Southern Nevada Property Management
8871 West Flamingo Road Suite 202
Las Vegas, NV 89147
Phone 702-522-6764
Fax 888-203-2779
0 votes Thank Flag Link Mon Jan 30, 2012
Do you have a broker? You need to talk to your broker! ASAP
0 votes Thank Flag Link Sun Jan 15, 2012
Hi Carolyn. Your Realtor can get the cancellation form off of the HUD website.
Kelly Stafford
0 votes Thank Flag Link Sun Jan 15, 2012
It really depends on few factors like how long are you into the dye diligence ? If you past the 15 days inspection period , than you might loose your deposit. When you say closing is longer than 45 days, what fo you mean? Is itbecase of your lender? Is it because of HUD? Is it a cash deal and who is asking for the extent ion?
I think that the best way is to contact HUD or BLB and ask them directly or your real estate agent.
Good luck

Rena Levy
Realty Executives of Nevada
Web Reference:
0 votes Thank Flag Link Sun Jan 15, 2012
I concur with the initial response. If you were wanting to cancel during the due diligence. You might have the opportunity to receive your earnest money deposit back. But you should check with your agent to give you more information.
Web Reference:
0 votes Thank Flag Link Sun Jan 15, 2012
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