HUD foreclosure info for real estate agents

HUD Home Store Frequently Asked Questions (FAQs): Real Estate Agents

1. How do I bid on a property? To submit a bid go to http://www.HUDHomestore.com, search properties, when you find a property you would like to place a bid on, click the HUD Registered Bidder tab in the lower right hand corner and follow the instructions.
2. How do I access a HUD Home for sale? Contact the Listing Broker to schedule a showing appointment.
3. What is a NAID number? A name and address identification (NAID) number is used by HUD to track the payee of HUD funds.
4. How do I obtain a NAID number? Submit a SAMS 1111 form which can be found on http://www.HUDHomestore.com under the NAID Registration link.
5. How do I register my real estate brokerage firm to bid on HUD properties? The necessary forms and application information are available the on http://www.HUDHomestore.com.
6. What is a Field Service Manager? The Field Service Manager (FSM) is the HUD contractor responsible for property maintenance and preservation services such as: inspecting the property, securing the property, performing cosmetic enhancements/ repairs, and providing ongoing maintenance.
7. What is an Asset Manager? The Asset Manager (AM) is the HUD contractor responsible for marketing and managing HUD-owned properties.
8. How will I know who the Asset Manager is for a particular property? The Asset Manager for each property is identified in the property listing on http://www.HUDHomestore.com.
9. How much commission compensation will I receive? The selling agent and the listing agent may receive up to 3% commission based on the sales price of the property.
10. How do I notify HUD of a safety hazard on a property? Please contact the Field Service Manager, the Asset Manager or the Listing Broker for the property. The contact information for the Field Service Manager, Asset Manager, or Listing Broker may be located by visiting https://www.hudhomestore.gov/Home/Index.aspx