HUD Home Store Basics

HUD Home Store Basics

Do you have customers interested in buying a HUD home?

 

What is a HUD Home? HUD homes are foreclosed properties that were originally purchased with FHA loans. Residential properties become HUD homes when a homeowner is unable to keep up with their monthly mortgage payments and defaults on their loan. ... Any buyer who has the funds or can qualify for a loan is eligible to purchase a HUD home. Due to condition, some are sold for cash only.  Typically Owner Occupants are given the opportunity to purchase prior to Investors. You can see all listing in your area here:  https://www.hudhomestore.gov/ . They are often, if not always, listed on the MLS, so a buyer may reach out to you as they would any other MLS property.

 

How do I sell a HUD Home? You will need to register on Hud Homestore:  https://www.hudhomestore.gov/

 

Follow these Steps to Register as Selling Agent: Our NAID # is  DLTNWD2613

 

 

  1. Login (You have to be logged in)
  2. Click on the "Help" tab
  3. Scroll down to "Videos and guides showing you how to use HUDHomestore" (in Bold text)
    1. then you will click "Selling Agent Registration". This is a short video showing how to Register as a selling agent & connect your License to Dalton Wade a principal Hud home broker.
    2. There is NO cost to register.   The main requirement is your broker must be a principal Hud broker.  Dalton Wade meets requirements and Our NAID # is  DLTNWD2613
    3. After you have registered as a Selling Agent you will be able to submit a bid or write an offer on a property on the HudHomestore.
  4. When you are under agreement for a property, you will be able to sign for Phil.  You will need a form, located in dotloop:
    1. Go to your loop for the HUD transaction
    2. Go to initial docs
    3. Click add document (the right of initial docs folder name)
    4. Click templates
    5. Scroll down to the folder named “Dalton Wade Custom Forms”
    6. Find the form named “Broker Authorization (HUD Signor)” and check the box next to the name
    7. Click Copy
    8. Fill out the form and share it with Phil as Broker
    9. Upload to your transaction https://www.hudhomestore.gov/

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