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:
- 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.
- HUD homes are sold As-Is without any warranties so you should inspect the home prior to submitting an offer.
- 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.
- 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.
- No guarantees and/or warranties are made as to the property’s condition. No repairs will be performed by HUD before or after closing.
- 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.
- HUD approved Brokers are only people who may submit bids for HUD homes.
- 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.