GO OPEN DOORS
Welcome to the HUD Broker/Agent Center!
We are here to help you be successful with Buying and Selling HUD homes. You will find great resources, tools and how to videos designed to provide you with the knowledge, experience and confidence to easily show and sell HUD homes.
10 Steps to Successfully Buying and Selling HUD Homes!
Becoming a Registered HUD Broker.
To sign a HUD Sales Contract and place a bid on a property, you must receive an active NAID from HUD and register as a Bidder on the HUDHomestore site. To get a NAID, complete the necessary forms and provide all required documents to the HUD Homeownership Center that has jurisdiction over the state where you're located.
Register a Bidder Account on the Hudhomestore.com
HUD-registered Selling Brokers, Nonprofits, and Government Agencies must register with this site in order to submit and review bids. Selling Agents and Associate Brokers: You must wait to register until after the Principal Broker with the NAID has registered on HUD Homestore (you can check this in part 3 below). For your registration, you will need to know the Principal Broker’s NAID.
Searching for HUD homes, Addendum and Contracts on the Hudhomestore.com. Understanding FHA codes IN, IE, UI, F, HOA & LBP. Know Bid Periods.
The Hudhomstore is your one stop to locate properties, find out details, get contact info and downland contracts, reports and addendum. Here you will find out what all those codes mean and understand bid period timelines.
Showing HUD homes and expectations for you and your buyer.
HUD homes are easy to access like any other home listed for sale. This step will explain the simple procedures for accessing and showing HUD homes and managing expectations.
HUD's new BSCA (Buyer Select Closing Agent)
The BSCA program that allows homebuyers with a ratified sales contract to select who they want to use as a closing agent. The program will replace HUD’s Designated Closing Agent and designed for potential cost savings to the FHA MMI Fund. This new program will also help facility faster closings.
Submitting a bid and completing contracts and addendum. Closing Cost, EMD and Closing Time Frames.
At this step you will learn how to submit a bid, complete contracts addendum. We will also go over EMD requirements, and closing time frames.
Utilities, HOA/POA/Condo Documents and Inspections
This step will take you through the process of Utility Activation, Ordering HOA/POA or Condo Documents and Inspections. This section will also cover WDI and LBP inspections and reports
Appraisals and Repairs
This step will take you through the appraisal process and HUD policy of repairs.
Extensions & Cancelation
This step will take you through the extension request and cancelation request process.