Hud Listing Broker Presentation
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The document provides information on how to successfully sell HUD homes, including an overview of the HUD home sales process. It describes who can buy and sell HUD homes, how to register as a broker on HUDHomestore.com, how to find available HUD homes listed for sale, financing options, and how to complete and submit the sales contract package online through the bidding system.
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Hud Listing Broker Presentation
- 31. Insured in Escrow IE
- 32. Addendum Tab
- 40. Line 2: Please enter name(s) and style in which title will be taken. Common examples of style in which title may be taken include: A single man/woman Joint tenants with right of survivorship Community property Tenants in common Please advise your client to seek legal counsel if they have questions regarding the style in which they should take title.
- 56. Conditions of Sale must be signed by the purchaser(s)
- 57. If Purchaser is a licensed Real Estate Agent or Broker, Purchaser must check the first line. If not, check the second line. Both the Purchaser(s) and the broker must sign.
- 61. Purchaser(s) must choose whether they wish to have a home inspection performed .
- 81. Where Can I Advertise?
Editor's Notes
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- The Principal Broker will select “Principal Broker with NAID” from the “Role” box.
- To complete the setup process, read and check the box accepting the “Terms and Conditions,” then enter the security code characters, and click “Submit.” Please note that the security code characters are case-sensitive.
- When bidder setup has completed successfully, you will be returned to the bidder page as shown and your name will appear in the upper right hand corner.
- IN – properties with MPS repairs totaling $250 or less will be listed as IN and will not include those MPS repairs. IE – lender holds the repair escrow money until repairs are completed (within 90 days after closing) and is responsible for disbursing the funds to the appropriate parties. The escrow repair amount only applies to FHA 203(b) financing. These properties may also qualify for 203(k) financing
- Note: Addendum not previously approved by Seller may not be made a part of this contract. Approved addendum must be signed by, and in the same style as, those signing as Purchaser(s)
- Note: Addendum not previously approved by Seller may not be made a part of this contract. Approved addendum must be signed by, and in the same style as, those signing as Purchaser(s)
- Please note: “Daily bids submitted on Friday, Saturday and Sunday will be reviewed on the next business day in order of received date” – i.e. bids received Friday night are reviewed Monday morning, if no acceptable bids then Saturday bids are reviewed, if no acceptable bids then Sunday bids are reviewed.
- Unused extension fees will be prorated to purchaser and refunded by escrow – i.e. if 10 days out of 15 day extension are used, the remaining 5 days will be refunded to the buyer.
- This list is not all-inclusive, agents may advertise in any media as long as they follow the guidelines in the previous slides.