Broker asking for Exclusive Buyer's Agreement for Hud Purchase
I admit I am new to buying properties, however the selling broker for Hud is requesting an exclusive buyer's agreement. I do not believe this is required to buy a Hud property that I have already won a bid on. I am refusing to sign this and wondering if that was a mistake. I only have 48 hours to get my paperwork in, and the first set of papers I get is an exclusive buyers agreement, Hud is paying both the listing broker and the selling broker as well. Is something wrong with this picture or is it me? Should I be required to sign an exclusive buyers agreement which in effect says if HUD do not pay, I will. And the agreement is till Jan. 31, 2015 and probably 30 days after that ending date, I will pay them if I buy another property. What do you suggest???