U.S. Department of Housing OMB Approval No. 2577-0157 (Exp. 3/31/2010)
Offer of Sale of
and Urban Development
Real Property
Office of Public and Indian Housing
Public reporting burden for this collection of information is estimated to average 1.5 hours per response, including the time for reviewing instructions,
searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This agency may
not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number.
This collection of information is required for developing a public housing project pursuant to HUD regulations 24 CFR 94l. The information will be used
to provide HUDwith sufficient information to enable a determination that funds should or should not be reserved or a contractual commitment made. This
information collection is mandated pursuant to the U.S. Housing Act of l937. The information requested does not lend itself to confidentiality.
property to the ________________________________________
(text)
1.
In consideration of the sum of $ _____________________ and
other valuable consideration herein called option price, the
receipt whereof is hereby acknowledged, the undersigned (hereinafter
called the seller), being the owner of the property
described below, hereby offers and agrees to sell and convey the
(text)
(text)
(hereinafter called the Public Housing Agency (PHA) or its
assignee or nominee for the sum of $ ___________________.
(text)
In the event that a Purchase Agreement (form HUD-51971-II) is
executed but closing cannot be consummated for the reasons
stated in paragraph 3 or 5 of the Purchase Agreement, the seller
hereby agrees that the option price or portion thereof shall be
returned to the PHA as provided in the Purchase Agreement.
2.
The property is located in (city or town and county) ________
(text)
(text)
3.
This offer shall be irrevocable for a period of ____________ days
(insert at least 90 days) from the date hereof and shall remain
inforce thereafter until terminated by the seller by giving 30 days
prior written notice to the PHA of such termination. Until the offer
is terminated, the PHA or its designee shall have the right to
entersaid property for the purpose of appraisal, survey and inspection.
in the State of _______________________________________
and the property is described as follows (include street address
or other specific location, attach list of any renter occupants
by name, address, and number of persons in household, and
identify any exceptions to the offer):
(text)
(text)
4.
The PHA shall evidence acceptance of this offer by executing at
least three copies of form HUD-51971-II, Purchase Agreement, a
copy of which is attached as an exhibit, and by mailing at least two
executed copies to the seller at the address specified below so that
the seller may execute both copies and return one to the PHA.
5.
Upon closing, the seller shall: (a) convey (subject to any exceptions
specifically set forth in paragraph 2 hereof and liens for
current taxes and assessments) to the PHA or its designee or
nominee by general warranty deed a good and marketable fee-
simple title thereto, together with all improvements, hereditaments,
and appurtenances thereunto belonging, free and clear of
all liens, easements, restrictions, delinquent taxes and assessments,
leases and encumbrances of any kind, existing or inchoate,
with proper release of dower, curtsy, and waiver of homestead
rights, if any, together with all of the seller's rights, title, and
interest in and to any streets or alleys adjoining or abutting
thereon; (b) provide documentary evidence that the zoning permits
the PHA's proposed use of the property; and (c) deliver
possession to the PHA which shall be responsible for relocation
of any renter occupants in accordance with the provisions of the
Uniform Relocation Assistance and Real Property Acquisition
Policies Act of 1970, as amended (URA).
6.
Loss or damage to the property by any cause shall be at the risk of
the seller until title has been conveyed to the PHA.
7.
The seller agrees, so long as this offer remains in effect, not to sell,
mortgage, encumber, or otherwise dispose of the property or any
part thereof, or interest therein, except to the PHA.
8.
This offer is made voluntarily. The PHA will not use its power of
eminent domain to acquire this property if the seller and the PHA
are unable to reach an amicable agreement as to the purchase
price. The PHA will inform the seller of the amount it believes is
the fair market value of the property. If that amount is less than the
proposed sale price in paragraph 1 of this Offer of Sale,the seller
may withdraw the offer and return the option price to the PHA.
The seller understands that the seller is not and will not be eligible
to receive relocation assistance under the URA implementing
regulations at 49 CFR Part 24, or HUD program regulations. This
offer shall be binding upon the seller and the seller's heirs,
executors, administrators, successors, and assignees.
Witness
(text)
Witness
(text)
Seller
(text)
Date
(text)
Address
(text)
form HUD-51971-I (2/93)
Supersedes HUD-51971 (1/81)
Page 1 of 1
ref Handbook 7417.1
U.S. Department of Housing OMB Approval No. 2577-0157 (Exp. 3/31/2010)
Purchase Agreement
and Urban Development
Office of Public and Indian Housing
Public reporting burden for this collection of information is estimated to average 1.5 hours per response, including the time for reviewing instructions,
searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. This agency may
not collect this information, and you are not required to complete this form, unless it displays a currently valid OMB control number.
This collection of information is required for developing a public housing project pursuant to HUD regulations 24 CFR 94l. The information will be used
to provide HUDwith sufficient information to enable a determination that funds should or should not be reserved or a contractual commitment made. This
information collection is mandated pursuant to the U.S. Housing Act of l937. The information requested does not lend itself to confidentiality.
1.
The _____________________________________________
(hereinafter called the Public Housing Agency (PHA) agrees
to purchase, and ___________________________________
(hereinafter called the seller) agrees to sell, the property
described in paragraph 2 of the attached Offer of Sale of Real
Property (form HUD-51971-I, executed by the seller on
_____________ (date)(hereinafter called the Offer of Sale),
for the sum of $ _____________________. The Department of
Housing and Urban Development (hereafter called HUD)
has, on the basis of its appraisal, determined the fair market
value of the property to be $ _____________________. (If the
fair market value of the property is greater than the price
specified in paragraph 1 of the Offer of Sale, the seller may
withdraw its offer of sale. If the seller withdraws the offer of
sale, the option price shall be returned to the PHA). The
Purchase Agreement incorporates all conditions stated in the
Offer of Sale.
(text)
(text)
(text)
(text)
(text)
2.
The PHA shall specify the place and time of closing, which
shall not be more than 90 days after the date of seller's
execution of this Purchase Agreement or such later date as may
be acceptable to seller; however, if additional time is needed
for required zoning changes, the closing date shall be extended
for an additional 90 days or such additional time as may be
acceptable to seller.
3.
Upon closing, the seller shall deliver title to the property in
compliance with paragraph 5 of the Offer of Sale. If there are
defects in the title which can be remedied by legal action
within a reasonable time as agreed to by the seller and the PHA,
the seller shall take such action promptly at the seller's own
expense and the date for closing shall be extended for such
period of time. If there be defects in title which cannot be or are
not remedied within such time, this Purchase Agreement shall
be terminated, the seller shall return the option price to the
PHA and both parties shall be released from all liability for
damages by reason of any defect in title.
4.
Prior to closing, the site must be determined to meet the
requirements of HUD. The seller grants permission to the PHA
or its designee to enter said property for the purpose of
conducting the following studies or tests which must be completed
to make the determination, prior to closing, that the
property meets HUD requirements:
(text)
5.
In the event that title is in compliance with paragraph 5 of the
Offer of Sale, but closing cannot be consummated because the
studies or tests result in a determination that the site does not
meet HUD requirements, or any required zoning changes have
not been obtained, one-half of the option price as provided in
paragraph 1 of the Offer of Sale shall be returned to the PHA.
6.
All expenses of examination of title, transfer tax, and of
preparation and recording the Deed shall be paid by the PHA.
Payment of the above-stated purchase price shall be made
upon transfer of title to the PHA.
7.
Current taxes shall be prorated as of the time of closing. Any
outstanding special assessments or future installments thereon,
remaining unpaid against the property shall be paid in full at
time of closing by the seller.
Certification: We hereby certify that to the best of our knowledge and belief no member, officer, or employee of the PHA, no official of the
locality (city, county, etc.) and no member of the locality's governing body has any interest, direct or indirect, in this Purchase Agreement or
in any proceeds or benefits arising therefrom.
I hereby certify that all the information stated herein, as well as any information provided in the accompaniment herewith, is true and accurate.
Warning: HUD will prosecute false claims and statements. Conviction may result in criminal and/or civil penalties. (18 U.S.C. 1001, 1010, 1012; 31 U.S.C. 3729, 3802)
PHA Execution
Signature Date
(text)
Seller Execution
Signature Date
(text)
Title of PHA Official
(text)
Title
(text)
PHA Address
(text)
Address
(text)
Witness Witness
Notary Notary
form HUD-51971-II (2/93)
Supersedes HUD-51971 (1/81)
Page 1 of 2
ref Handbook 7417.1
Form HUD-51971-I, Offer of Sale of Real Property
Form HUD-51971-II, Purchase Agreement
1.
Purpose: A Public Housing Agency (PHA) is responsible for
selecting a site or property for its proposed public housing
project under the conventional and acquisition methods. As
stated in the form HUD-51971-I, Offer of Sale of Real Property
(Offer of Sale), the offer is voluntary and the PHA will
not use its power of eminent domain to acquire the property if
the seller and the PHA are unable to reach an amicable
agreement on the purchase price. Paragraph 1 of the Purchase
Agreement indicates the amount HUD believes is the fair
market value of the property. As a consequence of these
disclosures, the purchase is not subject to any of the policies
of Title III (Uniform Real Property Policy) of the Uniform
Relocation Assistance and Real Property Acquisition Policies
Act of 1970, as amended (URA) and the seller is not eligible
for relocation assistance. Renter-occupants of the property
are, however, eligible for relocation assistance under Title II
(Uniform Relocation Assistance) of the URA. All documentation
evidencing the voluntary nature of the transaction, e.g.,
invitation, newspaper and other listings, etc., must be retained
by the PHA. The form HUD-51971-II, Purchase Agreement,
is to be used by the PHA to indicate the amount which the PHA
is authorized to pay to purchase the site or property and to
identify any studies or tests required to determine if the site or
property meets HUD requirements.
2.
Prepared By: The form HUD-51971-I, Offer of Sale, is
completed by a prospective seller. The form HUD-51971-II,
Purchase Agreement, is prepared by the PHA and executed by
both the PHA and the seller. Adaptations required by state or
local law may be made to forms HUD-51971-I and HUD51971-
II with the approval of the HUD Office Counsel.
3.
Number: At least three executed copies of the form HUD51971-
I, Offer of Sale, and form HUD-51971-II, Purchase
Agreement.
4.
Distribution: As an attachment to its PHA proposal, a PHA
shall submit one copy of the form HUD-51971-I to the HUD
Office for each site or property comprising a public housing
project to be developed under the conventional or the acquisition
methods. One copy of the forms HUD-51971-I and
51971-II shall be an attachment to the PHA's submission of
the site acquisition documents. If there are renter occupants
on the site, and if delays in closing beyond 30 days of PHA
execution of the Purchase Agreement are anticipated (due to
zoning changes, site studies, HUD Office approvals, etc.),
the PHA should submit, with its PHA Proposal, a request for
HUD Office approval of an appropriate specified extension of
time for providing the required relocation notices.
5.
PHA Instructions Concerning Preparation:
A. Form HUD-51971-I, Offer of Sale of Real Property
Paragraph 1. In the first space state the dollar amount of the
consideration. In the second space state the legal name of the
PHA. In the third space state the seller's asking price for the
property described in paragraph 2.
Paragraph 2. In the first space identify the city or town and
county or equivalent political subdivision in which the property
is located. In the second space identify the State (or
equivalent) in which the property is located. Describe the
property in the large space, beginning with the street address
or other specific location. Also in this space identify any
exceptions to the offer and list any renter occupants by name,
address, and number of persons in the household. Use a
continuation page if required.
Paragraph 3. Insert a time period of at least 90 days taking into
consideration time necessary for any anticipated special requirements
such as site studies or zoning changes.
Signature Area. The seller's signature and typed name, date
and address should be included in this area with the signatures
of two witnesses who have seen the seller sign. Space is also
provided for notarization or acknowledgement if required by
local law.
B.
Form HUD-51971-II, Purchase Agreement
Paragraph 1. In the first space state the legal name of the PHA.
In the second space state the name of the seller. In the third
space state the date the seller signed the Offer of Sale (form
HUD-51971-I) and attach a copy of the Offer of Sale to the
Purchase Agreement. In the fourth space insert the amount
authorized by the HUD Office as the purchase price. In the
fifth space indicate the amount determined to be the fair
market value of the property by HUD. If the proposed sale
price in paragraph 1 of the Offer of Sale of Real Property
(HUD-51971-I) is less than the HUD determined fair market
value, the seller may withdraw the Offer of Sale and return the
option price to the PHA.
Paragraph 4. In the space provided identify any studies or
tests required to be completed prior to closing to make the
determination that the property meets HUD requirements.
Paragraph 7. The second provision, that the seller pay any
out-standing assessments, is based on the assumption that the
value of any improvements for which the assessment is made
has been included in the HUD-approved purchase price of the
property.
Signature Area. The first signature is that of the authorized
PHA official and signifies the PHA's acceptance of the seller's
offer,with or without changes in the price and with or without
the specified studies or tests. The second signature is that of
the seller and confirms that there is an agreement. Both
signatures attest to the certification immediately preceding
the signature area. The signatures of two witnesses are required
for each party to the agreement and spaces are provided
for any locally required notarization or acknowledgement.
form HUD-51971-II (2/93)
Supersedes HUD-51971 (1/81)
Page 2 of 2
ref Handbook 7417.1
| File Type | text/plain |
| File Modified | 0000-00-00 |
| File Created | 0000-00-00 |