8 Reminders Before Submitting a Bid For a HUD Home

If you are preparing a bid for a HUD home, here is a quick list of reminders for selling agents and their buyers regarding this process:

  1. If you search for a property and it does not show up in the search properties area of HUDHomeStore.com – that property has an accepted bid at this time. There is no way to submit another bid unless the home is posted at HUDHomeStore.com.
  2. HUD homes are sold As-Is without any warranties so you should inspect the home prior to submitting an offer.
  3. HUD reserves the right to waive any irregularity in any bid, reject any and all offers, and to withdraw a property prior to the bid opening.
  4. Purchasers should be advised that the properties may contain code and/or zoning violations. The code and zoning status must be determined by the Purchaser.
  5. No guarantees and/or warranties are made as to the property’s condition. No repairs will be performed by HUD before or after closing.
  6. Purchasers are encouraged to have the properties inspected by a qualified home inspection service company to satisfy themselves as to the condition of the property.
  7. HUD approved Brokers are only people who may submit bids for HUD homes.
  8. Selling brokers must have a NAID to submit a bid for a HUD home. NAID’s may be obtained by submitting applications per the instructions posted at HUDHomeStore.com.
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WILMOTH Group is headquartered in Indianapolis, Indiana and Fort Myers, Florida. We focus on providing creative local solutions for a variety of residential real estate needs including, properties for sale, property management services in Indianapolis, and short-term management services in Tampa and Fort Myers.