HUD Brokers & Agents
Understanding The Process for Selling A HUD Home
The process of selling a HUD home is different from traditional real estate sales. We welcome the chance to help you get your client to the closing table. To help you get off to a good start, we’ve provided some quick links to forms that you will need.
Our goal is to make the process as painless and seamless as possible. Our CEO, Trevor Nightengale, has years of experience working with HUD and its Asset Managers to market and sell their inventory. He can provide insight and guidance on the process as an approved listing broker for HUD.
Below we have highlighted some common questions to help you understand the process for selling a HUD home. Additional information and details can be found on HUD’s FAQs page or feel free to contact us for further assistance.
How do I place an offer on a property?
Once your buyer has decided to place an offer on a HUD home, you will need to submit the information through HUDHomstore.com review. Please note that you don’t need to log in to place a bid. The only thing required is matching a NAID and real estate license number to your active HUDHomestore.com registration. You can locate any placed offers under your profile. To quickly find your most recent bids, presently the Search button on the right side of the screen (next to the Clear button) after you log in.
How do I check the status of my offer/counter?
After logging into your HUDHomestore.com profile, go to the Review Your Bids page. There you can use the Search button to view a list of your most recent offers and see the bid status. Contact the Asset Manager regarding any specific questions about your bid status. Even though we are an approved NLB, Basis Real Estate Group can only provide you with information on the property listing. We do not have access to their bid reports. To find contact information for the Asset Manager, click the Property Contacts item on the gray menu bar.
What do I do if my offer is accepted?
Once you submit a bid, please remember to check the status on the Review Your Bids page. An accepted offer will generate an automatic email to the buyer’s agent and their broker. Please note that these emails are a courtesy. Do not rely on them as a notification of accepted bids. Some email systems may block an email or send it to the Spam or Junk folder. Please check these folders periodically for missed emails regarding HUD homes. With an accepted offer, you will need to refer to the Asset Manager’s contract package checklist to see what their requirements. Our office is available to help get your contract package ready for review. You can submit a copy of review below. Please note that it may take up to 5 days to get a signed and executed contract from the AM.
How do I prepare my buyers for a home inspection and/or appraisal?
HUD offers no warranty on the condition of its properties. They will not pay for the correction of defects or repairs as homes are “As Is.” As such, the new owner will be responsible for making needed repairs after closing and taking ownership of the home. No repairs can be done prior to closing. HUD urges potential buyers to have a licensed home inspector to assess the property. Regarding the utilities being on for the home inspection and, if required, the appraisal, please note that it is the buyer's responsibility to request permission to have the utilities turned on. An additional fee to be paid by buyer may be required. Upon receiving permission, the buyer must turn on utilities in their own name, then turn them off after completion of inspections and appraisals.
