All residential properties with a HUD case # offer a Selling Broker compensation up to 3%. HUD-owned properties that are simply a vacant or unimproved lot (either residential or commercial) or a lot without a residence have a set compensation up to $1000 not a percentage of the sales price. The information provided by HUD on the HUDHomeStore.gov website is the final word on compensation offered to the Selling Broker and bidding availability of the property. The Selling Broker’s compensation is entered online with the buyer’s bid information.
Good Neighbor Next Door (GNND) properties are offered only on HUDHomeStore.gov and never entered in the MLS. HUD does not offer commissions on GNND properties. Sellling Brokers are encouraged to make compensation arrangements with their client prior to showing properties in the GNND program.
HUD properties on ServiceLink Auction: HUD-owned properties on the market for more than 120 days will be removed from the HUDHomeStore website and offered on the ServiceLinkAuction website. The Selling Broker information regarding compensation as well as requirements for bidding will be outlined on the individual property’s auction page.
HUD information presented here may change with little or no notice.
Information needed to complete a bid on HUDHomeStore.gov:
- Is the buyer paying CASH or using a Conventional Loan, or FHA 203B/FHA203K Loan?
- Is the buyer an Owner/Occupant (will occupy the property as a primary residence for a minimum of 12 months) or an Investor-Purchaser?
- Buyer is requesting HUD to pay up to ______ % toward the buyer’s closing costs (not available for Investor buyers). Maximum allowed is 3%.
- Does the buyer want to hold the offer as a back-up if their offer is not selected?
- Are you or any close relatives of the buyer associated with HUD, AMs, FSMs, the Listing Broker, Appraiser, or Closing Agent?
- Is the buyer an individual with SSN or a Business with EIN?
- Will Primary Purchaser be living in the property?
- Company Name – if the buyer is a business or corporation
- Buyer’s First Name, MI, and Last Name
- Buyer’s Street Address, City, State, Zip Code, Email, Cell Phone
- A cell phone will be required to complete the DocuSign process if the bid is accepted.
- Is there an second buyer? If YES, this same information will be required.
- The Buyer Select Closing Agent is also entered on the bid. If you need suggestions, please contact Velda or conduct a search at the HUDHomeStore.gov website.
Be sure to use the name of the buyer that matches the name on the loan documents. This is the name that will be on all the closing documents and the DEED.