Wednesday, June 1, 2016

HUD Bids

Want to find great deals on houses in today's market? How about looking at bank-owned foreclosures through the US Department of Housing and Urban Development (HUD)?

Let me help you make your bids in Washington state. If you are an investor, you will want to search single family houses in Washington state listed on the website under an "Extended" bid status. Begin by doing a search on all properties by state (select "Washington") and then select "investor" from the drop down menu for "Buyer Type." Hit search.

Click on the highlighted blue case number for each property. At the bottom of the details page you will see "HUD registered bidder?" Click on the tab next to it labeled "Submit a Bid."

Offer whatever price meets your investing criteria.

Under "NAID type" select "Selling Broker." Under "NAID" type in "HMLAND7272."

Under "Real Estate License" type in "23175."

Type in the captcha numbers and click on "Verify NAID."

On the next screen, question 3, type in the purchase price offered using the formula above.

Question 4, click on "Paying cash..."

Question 5, type in "0." (or whatever concessions you may need)

Question 8, click "Investor."

Question 10, click the first choice "...may..."

Question 11, fill in your information as Purchaser. HUD does not allow "and/or Assigns."

Click continue, and review the offer on the next screen. Click the box under "Acceptance of Terms..."

Then click on "Confirm this Bid."

Print a copy of the acknowledgment on the next screen for your records. You're done! On to the next bid!

If an offer is accepted, I will be notified on the next business day, and will follow up with you to complete the paperwork on your behalf, and represent you through the transaction. If you have any questions, please let me know.

Happy Investing!

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