HUD Resources

HUD Resources

ATTENTION:

$100 DOWN ON ANY HUD PROPERTY USING AN FHA QUALIFIED MORTGAGE!
This Program allows $100 Down Payment for everyone looking to acquire a home as their primary residence that either don’t have the money to put down or just like to save cash on hand. Either way this creates the ability for almost anyone to own a home so there are no more excuse on why you can’t purchase a property. $100 Down Payment and if you have us represent you we can have them include closing cost which you can walk away with a property with hardly any money out of pocket! email us at jennifer@ruspinirealty.com or go online to www.ruspinirealty.com to go to search properties.

I don’t have a NAID # and I need to submit a bid today! What do I do?

You cannot submit an offer without an active NAID #. The purchaser(s) will need to contact a broker with an active NAID # to submit the bid. A list of active NAID brokers is listed on HUDHomeStore.com under the “Find a Broker” section

What is the bid period?

Each listing on www.HUDHomeStore.com has a Bid Submission Deadline. It is located directly beneath the Case Number and Eligible Bidders on the Property Details page of each property.

Please be advised that the Bid Submission deadline is Central Standard Time (CST). The Bid Submission Deadline will change as it progresses through the various Listing Periods. The following may help explain how our listing periods are determined and processed:

If the property is being sold as Insured (IN) or Insured with Escrow (IE), the Exclusive Listing Period is 15 days for owner-occupant buyers, non-profit organizations, and government entities. Please be advised that when we refer to the listing period days, we mean active days on market. Bids received during the first 10 days are considered to be received simultaneously, and the initial bid review is on the 11th day of the Exclusive Listing Period. If there is no winning bid, bids continue to be reviewed on a daily basis (Monday through Friday) until the 15-day period ends. Then, the property enters the Extended Listing period, eligible for all bidders, with bids reviewed on a daily basis (Monday through Friday) until an acceptable bid is received.

If the property is Uninsured (UI) or Uninsured 203(k) eligible (UK), the Exclusive Listing Period is 5 days for owner-occupant buyers, non-profit organizations, and government entities. Bids received during these 5 days are considered as though they are received simultaneously, and are not opened until the 6th day of the Exclusive

If the sale is canceled, will the EMD be refunded?

EMD refunds and forfeitures are reviewed on a case by case basis. Please review the HUD Forfeiture and Extension Policy for specific scenarios regarding EMD forfeitures/refunds.

How do I check the status of my bid?

You may check the status of your bid by logging in to your Bidder profile on HUDHomeStore.com Bid Resultsand clicking on Bidder Functions. You will need to enter at least one of the following to retrieve your offer information: Bid Confirmation Number, Property Case Number (aka FHA Case Number), Purchaser Last Name, or the Purchaser SSN/EIN.

When can an investor purchaser submit an offer for a property?

Investors may submit a bid once a property enters the Extended Listing Period. This period begins once the Exclusive Listing Period is over. If the property is being sold as Insured (IN) or Insured with Escrow (IE), the Exclusive Listing Period is 15 days for Owner Occupant purchasers, Non-Profit Organizations, and Government Entities – please be advised that when we refer to days on market we mean active days on market. Bids received during the first 10 days are considered to be received simultaneously, and the initial bid review is on the 11th day of the Exclusive Listing Period. If there is no winning bid, bids continue to be reviewed on a daily basis until the 15-day period ends.

If the property is Uninsured (UI) or Uninsured 203(k) eligible, the Exclusive Listing Period is 5 days for owner-occupant buyers, non-profit organizations, and government entities. Bids
received during these 5 days are considered as though they are received simultaneously, and are not opened until the 6th day of the Exclusive Listing Period.

When can the buyer get a home inspection done

The buyer has a 15 day period after contract ratification (execution) to activate utilities and complete the home inspection. All inspections, tests, and risk assessments are performed at the
purchaser’s expense.

How do I activate utilities for a home inspection?

The buyer must request permission to activate utilities with the Field Service Management (FSM) company assigned to the property. The FSM assigned to each property is posted under the Agent Info tab within the Property Details page of each listing on HUDHomeStore.com. For your convenience, the appropriate FSM will also be listed on the first page of the copy of your ratified sales contract.

Please be advised that each FSM has different guidelines and policies for utility activation. A deposit may be required and in some cases the deposit is non-refundable. It is important to
review and understand the specifications of each FSM company.