
Closing Office Functions
The following are the responsibilities of the Closing Office involved with a Genesis Program transaction:
- Submit the completed GENESIS GIFT FUNDS REQUEST FORM to Genesis along with the documents required on the Genesis Gift Funds Request Form.
- Genesis will only wire gift funds once all of the required documents have been received from the closing office. Gift funds distribution is done on a first come, first serve basis. The order is determined based on the receipt of the correct and complete documents required on the Genesis Gift Funds Request Form.
- Genesis will deliver to the Closing Office a demand for payment of the Service Fee from the Seller in accordance with the PARTICIPATING HOME AGREEMENT. The Closing Office must deliver the payment of the Service Fee to Genesis within 2 business days after closing.
|