HUD-Selling Agent Resources
HUD Homes, Selling Agent Resources

 

Selling a HUD home is EASY, but the process and paperwork are different.
 
CONTACT US or call (425) 432-3035 or (425) 466-9671 anytime you need assistance.
 
Here are some tips to get your started:
 
Your office must have a valid HUD NAID# (HUD's Name Address ID# assigned to your office) for you to be able to submit an offer.  If you do not have a NAID#, no one from your office can submit offers on HUD properties.  Getting a NAID takes several weeks.  Instructions can be found at http://www.hudhomestore.com/Listing/NaidApplication.aspx?sLanguage=ENGLISH.  If your office is NOT NAID approved and  you want to submit an offer, contact the listing agent for assistance.
 
Once your office has a NAID #, your Managing Broker needs to register on HUDHomestore.com.
Once they have registered then any agents within that office can register.  To register, you need:  Your offices NAID#, your real estate license number, date of issue and date of expiration.  Registering takes only a moment and once you have registered, you are ready to submit offers ("bids").
 
Check Availability at www.HUDHomestore.com   Listing agents are not advised when a bid is placed or how many bids there are.  HUD makes the bids invisible to the listing agents so that all buyers have an equal opportunity when bidding.  Simply put, if the home comes up on HUDHomestore, you can place a bid.  If it doesn't, you can't.
 
Also check HUDHomestore.com for other important information such as:  Who can bid (priority is giving to owner occupants for either the first 15 days on the market or the first 5 days on the market, depending on the condition of the property).  Watch the bid deadline as well as other good info such as appraised value and property condition.
 
All bids (offers) are placed electronically at www.HUDHomestore.com. The winning bidder is notified by email on the next business day after the bidding deadline.  If you do not receive an email by noon on the next busines day after the bidding deadline, you can check the status of your bid by loging into your bidder profile and checking the status of your bids.
 
Once your bid is accepted, you must submit a complete, original purchase and sale agreement to the Asset Manager within 2 business days of bid acceptance.  Use the BLB Website for preparing purchase and sale agreement documents.  Here are some helpful instructions.
 
 
Earnest Money is delivered to the Listing Broker for holding until the contract is ratified.  More info on earnest money requirements.
 
Check out the Selling Broker Handbook
 
and many more helpful resources.
 
Remember, you can always CALL US at (425) 432-3035 or (425) 466-9671 for assistance - whether its our listing or anybody elses HUD listing, we will do all we can to help you successfully sell more HUD homes!
 
See what some other happy HUD Selling Agents have to say!