Purchase A HUD Home

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WILMOTH HUD Resource Center

Since January 2011, through September 2016, WILMOTH Group has sold 1604 HUD homes representing $84,902,802 in value!  We want all of our selling partners and their buyers to be successful and enjoy all the benefits HUD homes can offer!  This page is designed to be your HUD Resource Center for all we can share about HUD homes.

WILMOTH Group’s HUD Resource Center offers answers for all parties interested in purchasing a HUD owned home. Below is a collection of links to resources that cover HUD homes and the buying process.

WILMOTH Group is a Local Listing Broker for HUD Contractors in Central and North Central Indiana and Southwest Florida. We are also approved to work with you on buying a HUD home.

What is a HUD home? It is a home that has gone into mortgage default with a loan insured by the Federal Housing Administration (FHA). Upon default and a subsequent foreclosure, the lender takes possession of the property and ownership is conveyed to the insurer, Housing and Urban Development (HUD). HUD selects Asset Managers throughout different regions of the country to sell these homes. A HUD home is any home that could be financed using a FHA-insured mortgage. These include single family, town homes, condominiums, mobile homes, or multiple family up to 4 units.

You need a registered licensed real estate agent to submit a bid for a HUD owned home. The following are links specifically for Agents to assist them in the selling process.

HUDHomestore.com

HUD listing details, and bidding Visit

Sage AcquisitionsNew Asset Manager For Indiana and Florida!

Congratulations to Sage Acquisitions!

Starting May 1, 2016 HUD listings are offered by WILMOTH Group through our new asset manager partner.

Learn more about Sage Acquisitions.

HUD Agent Instructions

Did You Receive An Email That Your Bid Is Accepted?

With confirmation your bid for a HUD home has been accepted you can complete the contract process.  Up to now, you have “bid” on the HUD home.  Now it is time to go to a formal contract.  Don’t delay-get started now!  Here are the instructions you need by Asset Manager and location.

HUD Sales Agent Training

Sales Agent Training -Successfully Selling HUD Homes

WILMOTH Group offers monthly training to provide sales agents all the latest information on successfully selling HUD homes to their buyers.  Watch the video to see the differences in an agent that understands HUD homes and one that decides to try and sell one on the fly.   Then review the topics you will learn and quickly sign up for our next class!

Eight Responses You May Receive After Submitting A HUD Home Bid

As the selling agent, you have submitted your buyer's HUD home bid.  You have received a confirmation number that the bid has been received.  You are probably wondering "what's next"? Brokers must check the HUD Listings website on a daily basis for bid results.  If...
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Understanding Listing Periods for HUD Homes

HUD utilizes different listing periods for homes based on the qualification status of the home and the type of buyer that wishes to submit a bid.  The following provides a guide for selling agents to understand and determine the listing periods for a HUD home....
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Eight Reminders Before Submitting A Bid For A HUD Home

If you are preparing a bid for a HUD home, here is a quick list of reminders for selling agents and their buyers regarding this process: 1. If you search for a property and it does not show up in the search properties area of HUDHomestore.com- that property has an...
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HUD Home Inspection Process

Completing a HUD home inspection is optional but highly recommended.  After your HUD contract has been accepted (ratified) by HUD, there is a 15 day due diligence period.  The selling agent must contact the Field Services Manager (FSM) to authorize a home inspection. ...
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HUD Earnest Money Forfeiture and Return

The following provisions of the HUD Earnest Money Forfeiture and Return policy are applicable in all instances except those where HUD is unable or unwilling to close the sale, in which case the entire amount will be returned. Investor Purchasers: Uninsured Sales: 100%...
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Working With HUDHomestore.com

HUDHomestore.com is the website created and managed by HUD for the marketing, bidding, and sales of HUD-owned homes.  The site is designed for selling agents and buyers. If you have site-specific questions related to HUDHomestore, please use the following email and...
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HUD Special Programs

There are several types of HUD special programs offering unique opportunities for buyers of HUD-owned homes.
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Getting Your HUD Contract Closed

Your HUD bid has been accepted and you just received your ratified (executed) contract package from the HUD asset manager.  Time to focus on getting your HUD contract closed!  Here are some helpful tips to a successful closing! All purchasers must close on or before...
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Tips For Completing A HUD Sales Contract

Knowing how to complete a HUD sales contract (also known as a HUD-9548) is an important skill for any sales agent. The following is a collection of tips and advise to assist agents when completing a HUD Sales Contract and the related Addendums. The easiest place to start is visit the Asset Manager's (AM) web site and locate the forms page. You will find contract and addendum forms. In many cases they are easy to complete, questionnaire type that will make sure you fill in every blank accurately.
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HUD Homes Disclosures

Before submitting a bid for a HUD home, selling agents and their buyers should be aware of certain unique factors about purchasing a HUD-owned home. These HUD homes disclosures are important for analyzing the structure of bids and what to expect if the bid is accepted. Understanding these disclosures before deciding to bid on a HUD home should improve expectations and provide for a more successful buying experience.
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Good Neighbor Next Door

We get lots of questions from buyers and agents about the Good Neighbor Next Door program (GNND).  People hear bits and pieces of the program and hope that it applies to them.  If you do qualify, it most certainly is a program that you should consider participating...
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Is A HUD Home Available for My Buyer?

Is a HUD home available for your buyer? You can easily find out by reviewing the following information.
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HUD Questions? Call Us Toll Free for Easy Answers!

866-WILMOTH (945-6684)

HUD Homes- Frequently Asked Questions

Review our list of most frequently asked questions.  Enter your question in the search bar and find what we already have published.

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