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FOLLOWING IS THE REAL ESTATE AGENT'S RESPONSIBILTY WHEN USING THE
FAMILY HOME PROVIDER DOWN PAYMENT GIFT PROGRAM. The
real estate agent/broker must be in good standing and licensed to
sell real estate within the state in which the contracts are written.
The real estate agent must assist the sellers/builders in understanding
and complying with the Family Home Provider Program requirements.
The real estate agent must insure that the Seller
or Builder has signed the Sellers/Builders Participating Home
Service Fee Agreement FORM 106 and fax this to the lender prior
to wiring of any gift funds.
Family Home Providers cannot and will
not suggest any price for any home or property for any reason; but
the property must appraise for the final sales contract price or
higher.
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