Get the free Homebuyer Affidavit Disclosure Statement (hads)

This form is required by the City of Chicago Department of Housing as part of the application for the 2024 Shared Equity Investment Program Purchase Assistance Grant. It facilitates the disclosure of potential conflicts of interest, financial interests involving city employees or elected officials, and the identification of parties involved in the property transaction.

How to fill out homebuyer affidavit disclosure statement

How to fill out homebuyer affidavit disclosure statement

1. Obtain the homebuyer affidavit disclosure statement form from your local real estate authority.
2. Read the instructions carefully to understand the requirements.
3. Fill in your personal information, including your full name, address, and contact details.
4. Provide details about the property you are purchasing, such as the address and purchase price.
5. Disclose any financial information required, such as your source of funds and whether you are receiving assistance.
6. Review the affidavit for accuracy and completeness, making sure all sections are filled out.
7. Sign and date the affidavit and keep a copy for your records.
8. Submit the completed affidavit to your lender or real estate agent as part of your homebuying documentation.

Who needs homebuyer affidavit disclosure statement?

1. First-time homebuyers who are applying for a mortgage.
2. Individuals purchasing residential properties typically require this disclosure.
3. Anyone seeking government assistance programs for home purchasing may need to complete this affidavit.
4. Real estate agents and lenders may also require this document to verify buyer information.

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What is homebuyer affidavit disclosure statement?

The homebuyer affidavit disclosure statement is a legal document intended to confirm the identity of the homebuyer and the details of the purchase, ensuring compliance with local laws and regulations.

Who is required to file homebuyer affidavit disclosure statement?

Typically, the homebuyer or their legal representative is required to file the homebuyer affidavit disclosure statement during the home purchase process.

How to fill out homebuyer affidavit disclosure statement?

To fill out the homebuyer affidavit disclosure statement, the buyer must provide accurate information regarding their identity, details of the property being purchased, and any relevant disclosures as required by local regulations.

What is the purpose of homebuyer affidavit disclosure statement?

The purpose of the homebuyer affidavit disclosure statement is to ensure transparency in the home buying process, protect against fraud, and provide necessary information to government authorities for compliance.

What information must be reported on homebuyer affidavit disclosure statement?

The information that must be reported includes the buyer's name, address, property details, purchase price, and any relevant disclosures about the transaction.