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HUD Selling Broker Bonus Incentive 12/01/2011
HUD Selling Broker Bonus Program
A broker bonus is being offered in eight market areas: Georgia, Florida, Mississippi, Alabama, Illinois, Indiana, Tennessee, and Kentucky. The following conditions must be met in order for the selling broker to receive the applicable broker bonus.
•The preliminary bid must be submitted on or after December 1, 2011.
•For all properties that close up to 34 days of contract acceptance, the selling broker will be eligible for a $600 bonus*.
•For all properties that close within 35 to 39 days of contract acceptance, the selling broker will be eligible for a $450 bonus*.
•For all properties that close within 40 to 43 days of contract acceptance, the selling broker will be eligible for a $300 bonus*.
The HUD Contract Package Must Include:
•A loan commitment letter from a lending institution must be received with the signed Sales Contract if the purchase is to be mortgaged; or, if paying cash, a certification letter must be received from a financial institution stating sufficient funds are available to complete the purchase. The Lender Commitment Letter shall state that lending is contingent upon review of the title, appraisal and the executed contract. This indicates that all required documents outside of the above mentioned have been reviewed and approved by the lender.
•The words “Broker Bonus” must be written or typed at the top of the signed Sales Contract.
•The selling broker must complete and sign the HUD Notification regarding the broker bonus sales initiative.
*Exclusions apply
Excludes: Hard-to-sell properties
The selling broker will not be eligible to receive a bonus for any property advertised by the Asset Manager (AM) as hard-to-sell.
Note: The Atlanta Homeownership Center will not consider any appeals submitted by the selling broker for properties that fail to close within the aforementioned timeframes. No exceptions.
- Owner-Occupant Transactions Involving a Non-Occupant Co-Borrower
Owner-Occupant Transactions Involving a Non-Occupant Co-Borrower
