Whether you are a selling agent or a Local Listing Broker, your wallet will like the return of the HUD Sales Incentives that took affect April 1st. The new three tiered structure is sales price based, giving you the opportunity to make anywhere between $500 to $1,000 in addition to the standard commission you receive as a selling agent! 

**Helpful Tips**

- You must complete the Broker Incentive Notification found on PEMCO's website

- The preliminary bid must be submitted on or after April 1, 2011

- A loan commitment letter from a lending institution must be received with the signed Sales Contract if the purchase is to be mortgaged. If paying cash, a certification letter must be received from a financial institution stating sufficient funds are available to complete the purchase.

- The words "Broker Bonus" must be written or typed at the top of the signed Sales Contract

- This is only effective in Georgia, Florida, Illinois and Indiana

- For GA and FL properties, the purchase must close the sale within 30 calendar days of contract acceptance

- For Illinois and Indiana properties, the purchaser must close the sale within 40 calendar days of contract execution

 

 

11 Comments on HUD Sales Incentives are Making a COMEBACK!

APR
05
2011
187,908 Points 1 Featured Post

Glad to hear it.  The last training session I went to with Pemco, they told us the incentives were gone.
3:27pm • #1

This is new effective April 1st!
3:28pm • #2
APR
12
2011
3 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

AH man.....where are the CA incentives???
1:52am • #3
APR
14
2011

This is great!! But what sales under $25,000?
Trudie
11:47am • #4
APR
19
2011

All incentives are tied to getting deal closed within a certain time period.  According to what I've read, the deal must be closed within 30 days for Florida and Georgia and 40 days for Indiana and Illinois.

So the pressure will be on the lender.  Anyone here ever been able to close an FHA loan within 30 days. I know I haven't and rarely under 45 days.  Are Indiana lenders just slow or does anyone else have this problem.

 

 
Glenn McKinley
4:03pm • #5
APR
27
2011
200,036 Points 4 Featured Posts Localism Sponsor

Great info Kristin! I am in California... I will wait for it to come to my area!
9:04pm • #6
MAY
05
2011

Thanks for the response everyone! CA hasn't been approved for any incentives as of yet. Sales under $25,000 will not receive a bonus, but they will receive the traditional commission paid by HUD.
6:06pm • #7
MAY
24
2011

what about TX?
Leeza Morris
7:50am • #8

Texas has not been awarded any incentives. These are specific to Florida, Georgia, Illinois, and Indiana. 
1:02pm • #9
SEP
21
2011

Any update on possible sales incentives for Califorina?
8:06pm • #10
MAY
25
197,336 Points 2 Featured Posts Called Shot Master

This sounds AWESOME! When will we have these incentices here in New York? It would definitely help.
1:34pm • #11


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Kristin Nakama

Atlanta, GA

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PEMCO Ltd.

Address: 1632 S. King Street, Suite 100, Honolulu, HI, 96826

Office Phone: (404) 995-7111

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