[Code of Federal Regulations]
[Title 24, Volume 2]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR291.306]

[Page 499-500]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
 CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING 
        COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 
PART 291--DISPOSITION OF HUD-ACQUIRED SINGLE FAMILY PROPERTY--Table of Contents
 
        Subpart D--Sale of HUD-Held Single Family Mortgage Loans
 
Sec. 291.306  Closing requirements.

    (a) Closing date payment. On the closing date, the purchaser must 
pay to HUD the closing date payment, consisting of the balance of the 
amount due on the bid price, as adjusted in accordance with the Loan 
Sale Agreement.
    (b) Closing documents. HUD will execute and deliver to the purchaser 
a bill

[[Page 500]]

of sale transferring title to the mortgage loans sold in the sale. The 
purchaser must deliver to HUD the documents required at closing, in 
addition to the closing date payment.