Yesterday I was expounding on earnest money issues with HUD contracts. Later in the day, I had one more thought on the subject: sending the check. HUDs are weird, in that you send the check to the listing broker. BLB, the company that manages HUD sales in Washington, is in California. The closing company is here in Washington. Hence this logic.
Critically, though, you’re given two business days to get that to me. TWO! With that, I highly caution against dropping these checks in the regular mail. HIGHLY!!! First, the likelihood of it getting to me in time is dismally small. Secondly, and more scarily, you have no way of tracking down that check if it fails to arrive. None. Lost, stolen, shredded by angry postal trolls (with their razor sharp pointy teeth), I’ve seen all of these. I’ve seen them show up two weeks late, had people from the building next door bring them by a month later; on and on I can go. The point? Send it via a service with a tracking number. Not just FedEx, but also UPS and the USPS (Priority & Express). None of us ever want to say to a client “sorry, just lost a grand if your money. Oppsie!”
Just a few pro tips to make your life easier.
