HUD INSTRUCTIONS FOR REALTORS
HUD INSTRUCTIONS FOR REALTORS
HUD INSTRUCTIONS FOR REALTORS

 
HUD OFFER: 

 

INSTRUCTIONS FOR REALTORS:

 

All AGENTS must be registered to place bids on hudomestore.com.

All Brokerages must have an NAID number.

 

  1. 1.      My brokerage has NAID but is not registered to bid, …please visit www.hudhomestore.com and look for “Register” at the top right corner of the screen, under “Register” click on “Bidder.” Fill in.
  2. 2.      CHECK NAID, …please visit www.hudhomestore.com, click on “NAID Registration” in the middle of the screen, then click on the blue button in the middle of the screen that reads “Check current NAID Registration Status”.
  3. 3.      NO NAID?/ NEW TO HUD?... if you are new to HUD the first thing you will need to do is get a new NAID number, …please visit www.hudhomestore.com, click on “NAID Registration” in the middle of the screen under the Registration Tab, follow instructions.

 

ALL AGENTS AND BROKERS MUST BE REGISTERED AND HAVE A SCREEN NAME to place bids.

 

 

Submission of all offers: Please visit www.hudhomestore.com, Find your property and go to the “Property Information” page. Click on Submit offer on the bottom.

 

 

You must have the following 4 things:

 

  1. Contract and Disclosures: Common mistakes to avoid:
    1. Line 2: BUYER NAME + If single = “Tenant in Severalty” only. Or if multiple buyers: “Joint Tenants WROS or “Tenants in Common.” If married: “Tenancy by the Entirety” (with both names).
    2. Line 3: If sale price is below 50K, then $500 earnest money, or if sale price is over 100K, then $1,000 earnest money. On the final blank of line 3 just put “HUD.”
    3. Line 5: Maximum 3% of sale price.
    4. Line 6a: Your commission (3% unless below the minimum $1,250)
    5. Line 6b:  Exact same number as 6a.
    6. Line 7: subtract lines 5, 6a and 6b from line 3.
    7. Line 9: 45 days to close in the 1st blank and leave the 2nd blank, blank.
    8. Line 12: ONLY initial the purchaser’s box. If 2 persons put a dividing line.
    9.  Line 13: Print and sign on the same line. The X is for HUD. Don’t forget the buyers address, SSN and phone #.
  2. Earnest Money: Get a cashiers check, certified check or money order for:     
    1. $500 for prices below $50K;
    2. $1,000 for prices above $50K

The check should be made out to: SECRETARY OF HUD. It must be dated prior to the submission date of the contract. Fax or email with contract.

  1. Prequalification: Get a prequalification from our recommended bank OR send a PQ from your own bank. OR, if cash, show proof of funds (letter from bank, or statement).
  2. Additional Disclosures:It is possible that your property has additional disclosures needed. Please visit www.hudhomestore.com, Find your property and go to the “ADDENDUMS” page and view all attachments.

 

 

All 4 items must be complete in order to submit your offer. NO exceptions.

 

ALL SIGNATURES MUST BE IN BLUE INK!!!

 

 

 

TO CHECK OFFER STATUS:

Please go to www.hudhomestore.com for updated information on your offer.  LOGIN, go to “Bidder Functions” at the top, right. Then you can search by the buyers last name to see the status of your offer. Put your pointer over the black circle/ question mark to get an explanation of status. Let me know if you have any questions.

 

 

 

SUCCESSFUL OFFERS:

Original Docs and Earnest Money must be mailed to the appropriate Asset Manager within 48 hours of notification of accepted offer. The name and address of the AM will be in the notification email that you will receive informing you of your accepted offer.

 

HUD INSTRUCTIONS FOR BUYERS
HUD INSTRUCTIONS FOR BUYERS
HUD INSTRUCTIONS FOR BUYERS
HUD OFFER:

 

INSTRUCTIONS FOR BUYERS WITHOUT A REALTOR:

 

To search for available properties, go to www.hudhomestore.com and put in the search criteria. First put in FL on the left and then I recommend putting in as little other info as possible and narrow it down after. I highly recommend just searching by state and county only, this way you do not miss any sections of town that you do not know exist.

You must have the following 4 things:

 

  1. Contract and Disclosures: Common mistakes to avoid:
    1. Line 2: BUYER NAME + If single = “Tenant in Severalty” only. Or if multiple buyers: “Joint Tenants WROS or “Tenants in Common.” If married: “Tenancy by the Entirety” (with both names).
    2. Line 3: If sale price is below 50K, then $500 earnest money, or if sale price is over 50K, then $1,000 earnest money. On the final blank of line 3 just put “HUD.”
    3. Line 5: Maximum 3% of sale price.
    4. Line 6a: Your commission (3% unless below the minimum $1,250)
    5. Line 6b:  Exact same number as 6a.
    6. Line 7: subtract lines 5, 6a and 6b from line 3.
    7. Line 9: ALWAYS 45 days to close in the 1st blank and leave the 2nd blank, blank.
    8. Line 12: ONLY initial the purchaser’s box. If 2 persons put a dividing line.
    9.  Line 13: Print and sign on the same line. The X is for HUD. Don’t forget the buyers address, SSN and phone #.
  2. Earnest Money: Get a cashiers check, certified check or money order for:     
    1. $500 for prices below $50K;
    2. $1,000 for prices above $50K

The check should be made out to: SECRETARY OF HUD. It must be dated prior to the submission date of the contract. Fax or email with contract.

  1. Prequalification: Get a prequalification from our recommended bank OR send a PQ from your own bank. OR, if cash, show proof of funds (letter from bank, or statement.
  2. Additional Disclosures:It is possible that your property has additional disclosures needed. Please visit www.hudhomestore.com, Find your property and go to the “ADDENDUMS” page and view all attachments.

 

All 4 items must be complete in order to submit your offer. NO exceptions.  ALL WRITING MUST BE IN BLUE INK!!!