WILMOTH HUD Resource Center
Since January 2011, through December 2016, WILMOTH Group has sold 1618 HUD homes representing $86,292,336 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.
(May 1, 2017) New E-Signature procedure for HUD Sales Contracts and Addendums
HUD is transitioning to electronically signed documents. Technology from DocuSign is being used for this transition –https://www.docusign.com/industries/real-estate. This change should speed up the closing process and increase the ability to track who has and hasn’t signed the contracts.
As part of this transition, more information will be required when placing bids on HUDHomestore.com. This will include the name, address, cell phone number, and email addresses for:
- The Selling Broker who will sign the contract
- Up to 4 Buyers
- The Closing Agent
If necessary, this required information can be changed once the bid is accepted. The new e-signature sales contract will need accurate email addresses for all parties since sales contracts will be sent to those email addresses for electronic signing.
AMs will initiate the generation of the E-Signature process. The signers will then be contacted at their email address to digitally sign the contracts.
New 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.
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.
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!
HUD Questions? Call Us Toll Free for Easy Answers!866-WILMOTH (945-6684)
Videos On Selling HUD Homes
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