HUD 92544 Builder's Warranty Agreement Form
This file contains the HUD 92544 Builder's Warranty Agreement Form, required for warranty of completion of construction. It outlines the builder's responsibilities to ensure that the construction work is defect-free for one year. Homeowners and builders alike must complete this document to comply with HUD-insured loan requirements.
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How do I fill this out?
To fill out this form, begin by providing the builder's name and contact information at the top. Next, complete the property details and FHA case number accurately. Finally, the Warrantor and Purchaser(s) must sign and date the document.
How to fill out the HUD 92544 Builder's Warranty Agreement Form?
1
Enter the builder's name, address, and phone number.
2
Fill in the property address and FHA case number.
3
Provide a legal description of the property.
4
Ensure the Warrantor's signature and date are included.
5
Submit the completed form to the local HUD Field Office.
Who needs the HUD 92544 Builder's Warranty Agreement Form?
1
Builders who need to comply with HUD requirements.
2
Homeowners wanting warranty assurance on their new property.
3
Real estate agents assisting buyers with HUD-insured loans.
4
Lenders who require documented warranties for loans.
5
Construction companies involved in HUD-funded projects.
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What are the instructions for submitting this form?
To submit the HUD 92544 form, ensure it is signed by the builder and the purchaser. Send it to the local HUD Field Office, either by mail, fax, or through online channels if available. It is advisable to keep a copy for your records before submission.
What are the important dates for this form in 2024 and 2025?
For the HUD 92544 form, ensure you are aware of submission deadlines for HUD-insured loans in 2024 and 2025. Check with your lender for any specific dates relevant to your project. Always conform to state and local guidelines as well.
What is the purpose of this form?
The purpose of the HUD 92544 form is to provide a legal warranty from builders to buyers regarding the completion of construction. This warranty protects purchasers against defects in workmanship or materials for one year following the completion date. It ensures that builders uphold their responsibilities under HUD-insured loan agreements.
Tell me about this form and its components and fields line-by-line.
- 1. Builder's Name: Indicates the name of the construction company or individual responsible for the work.
- 2. Property Address: Specifies the location of the constructed property that the warranty covers.
- 3. FHA Case Number: A unique identifier for the FHA loan associated with the property.
- 4. Warrantor's Signature: The signature of the builder or party issuing the warranty.
- 5. Date: The date on which the warranty is signed and becomes effective.
What happens if I fail to submit this form?
Failure to submit the HUD 92544 form may result in losing the warranty assurance provided to homeowners. Unsubmitted forms can create liability issues for builders and affect future transactions. It is crucial to ensure all documentation is completed and submitted timely to avoid complications.
- Loss of Warranty Coverage: Without submission, homeowners risk not having warranty protection on construction defects.
- Legal Implications: Builders may face legal repercussions if warranties are not documented and filed.
- Delays in Loan Processing: Missing forms can delay the approval process for HUD-insured loans.
How do I know when to use this form?
- 1. New Home Construction: When building new homes under HUD guidelines.
- 2. Home Renovations: For major renovations that require HUD financing.
- 3. Purchase Transactions: Used when a buyer purchases a home that was built with a HUD-insured loan.
Frequently Asked Questions
What is the HUD 92544 form used for?
The HUD 92544 form is used as a Builder's Warranty Agreement to document the warranty of completion of construction.
Who needs to sign this form?
Both the Warrantor and Purchaser(s) need to sign this form.
How can I edit this document?
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What should I do after filling out the form?
After completing the form, remember to sign it and submit it to the appropriate HUD office.
How can I ensure my warranty is valid?
To ensure validity, complete the details accurately and submit the signed form to HUD.
What happens if the form isn't submitted?
Failure to submit the form may lead to lack of warranty coverage on the construction work.
Where can I find more HUD forms?
More HUD forms can be found on the official HUD website or through your local HUD Field Office.
Is there a deadline for submitting this form?
While specific deadlines depend on the loan process, it's best to submit without delay after signing.
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