Policies & Procedures- HUD Owned Properties for Sale

HUD Owned Properties for Sale

All HUD owned properties are listed for sale in the MLS when they are available, but the primary place to view HUD homes is on HUD’s own website, hudhomestore.com.

To sell a HUD home, go to hudhomestore.com and register as a bidder.  This is a one time process.  You will need the following information.                       

NAID Number:  VNGRDR7176                                                      

\Choose your own User Name and Password.

After registering, all offers on HUD owned homes are placed on hudhomestore.com.  Just search for the particular property, open the detail screen and scroll down and click on the “Submit an Offer” button.

To submit an offer, you should have, in hand, a pre-approval letter from a mortgage company or a proof of funds, if a cash offer.  Additionally, you need to have the earnest money deposit in the form of a certified check or money order made out to “Buyer Selected Closing Agent Company Name” for $500 if list price is $50,000 or less, or $1000 if list price is $50,001 or more.  If your electronic offer is accepted, you must send a complete contract package to the HUD asset manager handling that property within 48 hours and include the pre-qual and a copy of the EMD. 

You must then deliver the EMD to the HUD listing agent for that property within 48 hours or the contract will not be accepted.  All contracts must be originals, cannot be scanned, must be signed in BLUE ink by both the buyers and the broker.  No corrections or white-outs may appear on the paperwork.  For purposes of HUD contracts only, the broker signature is Martha M. Dickerson – or your manager may sign and add a permission letter to your paperwork that you are sending.

Prohibited Practices

We are a HUD listing broker!!!

Never purchase any property owned by HUD *

*Per the Master Listing Agreement Section 35 of the scope of works reads

The Listing Broker, and any and all contractors, subcontractors, agents, relatives, employees, and all other persons or entities affiliated with Listing Broker or any employee or agent of Listing Broker, shall not submit a bid upon, or lease, purchase, option, or finance (directly or indirectly, or through an interest in a partnership, corporation, joint venture, or other entity or structure) any Property owned by HUD and/or managed by HomeTelos.

For assistance selling HUD homes – or just questions – call Martha Dickerson 394-2315.