HOW TO SUBMIT AN OFFER:
Please visit hudhomestore.com to submit all offers. NO GAR FORM NEEDED.
To place a bid on property and sign a HUD Sales Contract, the Selling Broker must have an active NAID (Name and Address Identifier) and register as a Bidder on the HUDHomestore site.
Selling Broker are required to recertify their NAID yearly.
The recertification is completed through the NAID Application Portal system.
BROKERS/AGENT WITH AN NAID # WILL NEED TO LOG INTO THEIR PROFILES.
- Search for the property, using Search criteria
- Click on Property Case #
- Submit Offer Icon is on the bottom right
- Fill out property information and buyer’s information
- Buyer offer and type of loan
- Buyers Name, Address, Phone, email, SSN (If buyer is an Investor, Investor Company Name and EIN#
- Buyer selection Closing Attorney
BROKER WITH NO NAID #:
Visit hudhomestore.com and click on tab NAID Application Portal
- Recertify NAID, update Broker Real Estate License or modify address
- Apply for a new NAID #
- Replace Principal Broker on NAID
- Remove you Real Estate License from NAID
- Find NAID and Check Application Status
- Check NAID Recertification and License Expiration Dates
WHO CAN BUY A PROPERTY ON HUDHOMESTORE.COM AND SPECIAL PROGRAMS:
HUD has identified five buyer types that are eligible to purchase HUD-owned homes.
Certain conditions must be met to determine the eligibility of a buyer to bid on a particular home.
Only HUD-registered bidders can make offers on properties.
Homebuyers must use a HUD-registered Selling Broker or Selling Agent to make an offer on their behalf.
- Owner-Occupant: Eligible owner-occupants are individuals who have not purchased a HUD property as an owner-occupant within the past two (2) years. They can bid on homes in the Exclusive or Extended periods.
- Investor: Eligible investors can bid on homes only in the Extended period.
- Good Neighbor Next Door : Law enforcement officers, pre-kindergarten through 12th grade teachers, firefighters, and emergency medical technicians (EMTs) can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a 50% discount from the list price of the home during the Lottery phase. In return, the purchaser must commit to live in the property for 36 months as their sole residence.
Click here for more information about this program and its requirements.
- $1 Homes (Government purchase only) : HUD's Dollar Homes initiative helps local governments to address specific community needs by allowing those government agencies to purchase homes for one dollar. These are homes that have been on the market for over 180 days and that have an as-is appraisal value of $1 to $25,000. The government agency can then fix up the home and offer low- to moderate-income families the opportunity to purchase qualified HUD-owned homes for a substantially reduced price.
For more information, Click here
- Nonprofit : The Federal Housing Administration (FHA) offers community and faith-based nonprofit organizations the opportunity to purchase HUD homes at discounts up to 30%. With this discount, local nonprofit organizations invest in their communities through property rehabilitation and resell to first-time homebuyers and low- to moderate-income families.
Click here for more information.
- Government Agency: Government Agencies need a valid HUD NAID, and they must be registered on HUD Homestore. They use that NAID to place the bid themselves (without using a Selling Broker). Government Agencies can bid on homes in Lottery, Exclusive, and Extended phases provided they are in approved purchase areas. If the property is in the Lottery phase, the home must be uninsured. Government Agencies are the only bidders who can bid for Dollar homes. There is no "Selling Broker" commission for bids placed using a Government Agency NAID, since the Government Agency is placing the bid themselves.
Click here for more information about Dollar homes.