We've had a Hud Contract enacted by someone outside of my company (im guessing my agent) without my knowledge. I would have signed the contract myself and I want the deal, but I think it would be best to notify all parties & rewrite the agreement, thus jeopardizing the deal and the realtors license. What would you do?
First, why rewrite if you want it. And, there's not a lot to rewrite, their addendum pretty much eliminates any conditions. Has their addendum been signed? If not, or no EM supplied, it will be voided anyway.
First and foremost, talk to your Realtor and their broker and straighten out what's going on. It sounds like your signature was forged ("I would have signed the contract myself"), which you obviously don't want. That's your primary issue here, but if you do want the property then don't re-write the contract.
if you or someone authorized by you did not sign the contract, you are not under contract. Unless you gave this unknown party the authority to bind you to a contract, the fact that they exercised the contract has no binding impact on you.
Wayne- im not wanting to hide anything, but yes I would have signed it myself if it had been presented to me.
Andy- I didnt give anyone the authority to enact the contract, but would have been ok with it as its a revised copy of one I previously had signed. What's your thoughts on a Retroactive POA, as suggested elsewhere, and if you think its a favorable option -would this be a document that needs to be filed or can I just declare it if it comes up?
I have read this a couple of times and I am still trying to make sense of the situation. Are you sure this is a HUD Home bid on at Hudhomestore.com ?
If yes, has the contract been ratified ? To do that, someone would have had to sign your name and provide your ss# along with proof of funds or a pre-qual letter from a lender
Greg- sorry your having trouble, its a bit complex.
I enacted a previous contract on this property, in which I provided the attachments you mentioned along with EM dated ruffly 30 days prior. The new contract was reissued and only changed in minor terms such as date, nothing to substantial.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing