Fillable Printable Rider to Contract of Sale (HUD/FHA or VA Appraisal Contingency)

Rider to Contract of Sale (HUD/FHA or VA Appraisal Contingency)

RIDER TO CONTRACT OF SALE

HUD/FHA or VA APPRAISAL CONTINGENCY

In regards to the purchase of Premises known as

the Undersigned specifically and expressly agree that, notwithstanding any other

terms, conditions and/or provisions of this Contract of Sale to the contrary,

Purchaser shall not be obligated to complete the purchase transaction

contemplated by the Contract of Sale for the Premises or to incur any penalty of

any nature whatsoever or forfeit the deposit made pursuant to the terms,

conditions and/or provisions of this Contract of Sale unless Purchaser has

received, in accordance with the requirements of HUD/FHA or VA, a written

statement issued by the Federal Housing Commissioner, Veterans

Administration or by a Direct Endorsement Lender stating that the appraised

value of the Premises is not less than $ .

In the event that Purchaser fails to obtain said written statement, Purchase shall

have the sole option of proceeding with this transaction regardless of the

appraised value statement. The appraised value statement is utilized in

determining the maximum mortgage amount that the Department of Housing and

Urban Development (“HUD”) will insure. HUD does not warrant the condition or

the value of the Premises.

Dated:

PURCHASER: SELLER:

_____________________________ _____________________________