VA Amendatory / Escape Clause property address: loan number: It is expressly agreed that not withstanding any other provisions of this contract, the purchaser shall not incur any penalty by forfeiture of earnest money or otherwise be obligated to complete the purchase of the property described
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Fha amendatory clause and real estate certification form. FHA AMENDATORY CLAUSE It is expressly agreed that notwithstanding any other provisions of this contract, the purchaser shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture of earnest money deposits.
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AMENDATORY CLAUSE. An amendatory clause must be included in the sales contract when the borrower has not been informed of the appraised value by receiving a copy of Form HUD-92800.5B, Conditional Commitment/DE Statement of Appraised Value or VA-CRV before signing the sales contract. The amendatory clause must contain the following language:
FHA/VA Amendatory Clause and Certifications entered into on the FHA Direct Endorsement/VA Automatic Underwriting Certification of Borrower, Seller, Agent Borrower Date Borrower Date Warning: It is a crime to knowingly make false statements to the United States on this or any other similar form.
The FHA has a form for the lender to provide to the borrower that informs the borrower of the appraised value of the home he’s buying. If the lender doesn’t provide that form to the borrower before he signs the sales contract, an amendatory clause must be included in the sales contract. The appraised value in turn determines the maximum mortgage amount HUD will insure.
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fha amendatory clause It is expressly agreed that notwithstanding any other provisions of this contract, the purchaser shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture of earnest money deposits
Fha amendatory clause and real estate certification form – One of the conditions of the FHA mortgage is that the buyer, seller and real estate agents sign a form called the Amendatory Clause/Real Estate Certification Form. In many sales contracts across the United States, the FHA amendatory form is built into the sales contract.