What form must a broker use to submit an offer on HUD-acquired property?

The HUD Standard Retail Sales Contract is the required form for submitting an offer on properties acquired by the U.S. Department of Housing and Urban Development (HUD). This contract is specifically designed to comply with HUD's policies and regulations, ensuring that all necessary disclosures, terms, and conditions are clearly outlined. Utilizing the standard form helps streamline the process for both brokers and potential buyers, as it contains guidelines tailored to HUD transactions, including provisions for repairs, financing options, and the submission process.

Other forms, such as the State Real Estate Purchase Agreement or Conventional Offer Form, may not include the specific terms required by HUD and could lead to complications or delays in the offer process. Similarly, a Custom Real Estate Contract might not meet HUD's criteria, providing inadequate protection or not addressing necessary disclosures. Therefore, adhering to the HUD Standard Retail Sales Contract is crucial for agents working with HUD-acquired properties to ensure compliance and facilitate a smoother transaction.