Ura Voluntary Sales Disclosure Voluntary Acquisition printable pdf download

URA/Voluntary Sales Disclosure

Voluntary Acquisition Informational Notice

Organizations/Agencies/Persons without Eminent Domain Authority

Environmental Review

Seller acknowledges that federal funds will be used to purchase the property, and that the purchase offer is subject to

the completion of the Environmental Review (completed by Idaho Housing and Finance Association), and clearance

in accordance with 24 CFR Part 58 and that the cost of the purchase option is a nominal portion of the purchase

price.

Owner

Date

Owner

Date

Dear __________________Owner:

Date: _______________

(Name of Organization/Agency/Person) ________________________________, is interested in acquiring property

you own at (address) _______________________________________________ for a proposed project which may

receive funding assistance from the U.S. Department of Housing and Urban Development (HUD) under the

Neighborhood Stabilization Program (NSP) and/or the HOME Investment Partnership Program.

Please be advised that (Name of Organization/Agency/Person) ________________________________ does not

have authority to acquire your property by eminent domain. In the event an amicable agreement for the purchase of

your property cannot be reached, this proposed acquisition will not be pursued.

If NSP funding is used, the purchase must be a residential foreclosed property(s) (which may include certain

residential properties in mortgage or tax default status that meets the NSP definition of “foreclosed”) at a discount

from the appraised market value.

The subject property is listed for purchase at $ _________________. (If currently listed)

It is estimated that the property’s market value is $____________ based on the proposed sales

price listed above. We are prepared to purchase your property; however, depending on the results of the

appraisal, our written offer may differ from this amount. We will be informing you prior to closing of the

appraised value. If it differs from the amount above, you have the right to withdraw from the transaction.

The Appraisal (required for NSP projects) or Property Valuation indicates the property’s market

value is $_____________.

We are prepared to offer $_____________ to purchase your property.

Please contact us at your convenience, if you are interested in selling your property.

If the property is in default, but foreclosure proceedings have not been initiated/completed, and this offer is for less

than the current balance of your mortgage loan(s). We suggest that you seek legal counsel or guidance. We cannot

provide you with legal advice regarding any tax, credit, or deficiency judgment consequences to you related to the

sale.

Form-05 Voluntary Sales Disclosure - Voluntary Acquisition Informational Notice ENGLISH

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Ura Voluntary Sales Disclosure Voluntary Acquisition