This year I was awarded the NLB for Neighborhood Listing Broker for HUD homes. I have done HUD homes before but the company that was assigned to manage got reassigned to SAGE. This is normal in the HUD world. I am not sure of the time involved but reassignment happens every couple of years.
I am going to try to explain some of the way that HUD works because not only am I required to do an outreach to Realtors, but to buyers as well. This is my first one for Realtors and it will be a four part series, continuing during the year.
First the main website to be conscerned with is www.hudhomestore.com. From here you are able to sign up for an NAID #. This number is given to Brokers after they fill out the correct forms. It needs to be renewed yearly. Once your Broker has signed up, all agents in the office can submit their information under their Brokers NAID. Any Agent wishing to bid on a HUD home for their client must have previously applied for and received this number and have a valid email attached. You can, on hudhomestore.com, search via your social security or tax ID to see if you are already signed up. From there, you can click on the required forms (after you check with your Broker for his/her number) If you are a Broker, its a simple process. Just fill out the forms and mail them to the address given. It takes a couple of weeks, but you will receive an email telling you what your number is.
Once everyone has their numbers they can inquire about HUD keys. All HUD houses will/should have a lockbox on them, provided by the Listing Realtor, so if you forget your key you can call them.
If you do not have an NAID number, you will need to contact the listing Broker so they can submit the bid for you. You may be charged a fee in this case.
Next post: Rhode Island HUD homes How to find/be a BSCA