Home Buyers Frequently Asked Questions
Who Can Buy a HUD Home?
Owner Occupants, Investors, Non-profits and Companies. Anyone with a valid Social Security number or Tax ID
Will HUD Make Repairs to the Property?
No HUD Homes are sold AS-IS and no repairs will be made prior to closing. No repairs will be done period.
Will HUD Make Repairs to the Property if it is a Condition of the Appraisal?
Same as above. No HUD Homes are sold AS-IS and no repairs will be made prior to closing. No repairs will be done period.
What Does it Mean When the HUDHomestore.com Site Says “Availability of home is subject to the Asset Manager removing the home from the market” on a Listing?
This just means that at any given time in the bidding period that if a prior backup offer is selected then the home will be removed from the site and will not be available for a bid at that time, an example of this would be if after the initial bid period if the asset manager decides after the fact or while the home is being relisted due to a failed contract or price reduction or relist period they can go back to a previous back up offer and decide to take that in the middle of a new listing period.
Bottom line, if its on the HUDHomestore.com site make a bid! But if you dont see it that means its under contract or off market.
Buyer Agent Frequently Asked Questions
WA HUD HOME INSTRUCTIONS PEMCO – *PEMCO Instructions for completing a HUD sales contract package
Is the Property at 123 Main Street Available?
HUDhomestore.com is the fastest and most accurate way to answer this question. Search by HUD Property Case number, State, County, City, etc and if the property shows up it is available. If the property at 123 Main Street does not show up then most likely a bid has been awarded.
What is the Bid Submission Deadline for 123 Main Street?
This information can be found at HUDhomestore.com once you find the property in question, the Bid Submission Deadline can be found at the top left corner right under the Case Number.
Can an Investor Bid on 123 Main Street?
Yes after the Exclusvie Period has expired (where owner occupants are accepted) the listing moves into Extended and this is when Investor offers will be accepted. This information can be found on HUDhomestore.com find the specific property you are interested in and then under the “Listing Information” section you will see the line for “Listing Period”.
Does My Brokerage need a NAID to Submit a Bid?
Yes and active NAID is required to submit an offer on HUDhomestore.com
How do I get a NAID?
Here is the place for NAID Registration. Your brokerage can register to get a NAID at HUDhomestore.com in menu bar on the home page click “NAID Registration”. Complete the list of papework under the section “Selling Broker must provide” and links to the SAMS 1111 and SAMS 1111A forms can be found in the bottom of that same box. For WA applicants your application is mailed to the Santa Ana Homeownership Center.
Will HUD Pay for Any County Required Inspections?
Yes in the counties of Clallam, Clark, Island, Jefferson, King, Kitsap, Mason, Pierce, San Juan, Skagit, Thurston, Walla Walla, Whatcom, Whitman, Yakima that require a septic inspection HUD will pay for that.
Who Turns on Utilities for the Inspection and Appraisal?
All utilities must be turned on in the buyers name, the selling agent must facilitate this for their buyers by looking at the instructions on the first page of the mutual contract. The contact for the FSM will be on the first page and would be either AMS or Cityside.
What if There is Unpermitted Work in the Property?
The chances of getting permits to satisfy lender requirements are very difficult as the request must go through the FSM. So as a general practice it is better to assume that permits cannot be applied for prior to closing as it would require some sort of interaction with HUD and HUD is very limited in there ability to satisfy these kind of requests.
