FHA Amendatory Clause Form PDF Details

Navigating the home buying process can be complex, especially when it involves securing financing through the Federal Housing Administration (FHA). Central to this process is the FHA Amendatory Clause/Real Estate Certification form, a critical piece of documentation designed to protect both the buyer and the seller. This form stipulates that a buyer is not obligated to proceed with the purchase of a property if the appraised value does not meet or exceed the agreed-upon sales price. Furthermore, it ensures buyers can opt out without facing penalties such as the forfeiture of earnest money deposits. The form plays a pivotal role in validating that all parties involved—the buyer, seller, and their respective real estate agents—are in agreement with the terms and conditions of the sale, and it acknowledges that any additional agreements are attached to the sales contract. Acknowledging the importance of honesty, the form also includes a stern warning about the legal repercussions of making false statements, underscoring the seriousness with which these declarations are treated under federal law. Essentially, the FHA Amendatory Clause form embodies a safeguard for buyers, ensuring that they enter into a fair transaction with a clear understanding of the property's value and condition as it relates to their FHA-insured mortgage.

QuestionAnswer
Form Name Fha Amendatory Clause Form
Form Length 1 pages
Fillable? No
Fillable fields 0
Avg. time to fill out 15 sec
Other names amendatory fha, fha real estate certification form, amendatory clause fha create, fha amendatory clause and real estate certification 2020 pdf

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FHA DISCLOSURES

AMENDATORY CLAUSE / REAL ESTATE CERTIFICATION

Buyer(s)

 

 

 

 

Date of Agreement:

 

Seller(s)

 

 

 

 

File No.:

 

 

Property Address :

 

 

 

 

 

 

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 or otherwise unless the purchaser has been given in accordance with HUD/FHA or VA requirements a written statement by the Federal Housing Commissioner, Department of Veterans Affairs, or a Direct Endorsement lender setting forth the appraised value of

the property of not less than $. The purchaser shall have the privilege and option of proceeding with consummation of the contract without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development will insure. HUD does not warrant the value nor the condition of the property. The purchaser should satisfy himself/herself that the price and condition of the property are acceptable.

Borrower

Date

 

 

 

Borrower

Date

 

 

 

Seller

 

Date

 

 

 

Seller

 

Date

Note: The dollar amount to be inserted in the amendatory caluse is the sales price as stated in the contract. If the borrower and seller agree to adjust the sales price in response to an appraised value that is less than the sales price, a new amendatory clause is not required. However, the loan application package must include the original sales contract with the same price as shown on the amendatory clause, along with the revised or amended sales contract.

REAL ESTATE CERTIFICATION

We, the borrower, seller, and the selling real estate agent or broker involved in the sales transaction certify by our signatures below that the terms and conditions of the sales contract are true to the best of our knowledge and belief, and that any other agreement entered into by any of these parties in connection with this real estate transaction is part of, or attached to, the sales agreement.

Borrower

Date

 

 

 

Borrower

Date

 

 

 

Seller

 

Date

 

 

 

Seller

 

Date

 

 

 

Listing Agent (as applicable)

 

Date

 

 

 

Selling Agent (as applicable)

 

Date

WARNING: Our signatures above indicate that we fully understand that it is a Federal Crime punishable by fine, imprisonment or both to knowingly make any false statements concerning any of the above facts as applicable under the provision of Title 18, United States Code, Section 1012 and 1014.

Calyx Form - amecla.frm (05/02)

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Put the demanded information in the We the borrower seller and the, Borrower, Borrower, Seller, Seller, Listing Agent as applicable, Selling Agent as applicable, Date, Date, Date, Date, Date, Date, WARNING Our signatures above, and Calyx Form ameclafrm segment.

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