The principal broker must apply for a HUD NAID (Name Address Identification) number in order for his firm to be eligible to sell HUD homes. There is no cost to apply but the application process takes a couple of weeks.
Visit the HUD site to learn what is required in order to apply: https://www.hudhomestore.com/Listing/NaidApplication.aspx?sLanguage=ENGLISH
How to re-set your password: https://www.hudp260.com/videos/ListingSite_ChangePassword.swf
What to do if you forget your username: https://www.hudp260.com/videos/ListingSite_ForgotUserNameV2.swf
The Asset Manager (AM) for our area is Sage Acquisitions. The AM is responsible for marketing the property and hiring the local listing broker.
The Local Listing Broker (LLB) is your primary point of contact for property questions or questions about the required paperwork.
The Field Service Manager (FSM) is responsible for re-keying the property and ensuring that it is deemed "safe, secure, and marketable".
Once you receive notification that your online offer has been accepted. Contact the FSM and obtain a copy of the UAF (Utility Activation Form) this way when the contract comes back ratified, you can submit this form to the FSM to obtain permission to have the utilities turned on in the buyer’s name. Generally 72 hours is allowed for the utilities to be on. Try to schedule to have the appraisal done during this time as utilities may be required; if it is not possible ask for an extension to keep the utilities on.
The contact information for the FSM on the HUD website can be found under the "Property Contacts" tab on the property details screen.
For pre-1978 properties, HUD will order a LBP inspection for buyers purchasing with FHA financing. Closing will not occur until both the inspection and the Clearance Certificate have been obtained or a stabilization credit given. The stabilization process can take weeks.
HUD will stabilize or give a credit up to $4000.00 depending on the type of FHA financing used. If the buyer elects not to use FHA financing and stabilization has been done, the buyer will be liable to reimburse HUD for the costs.
For buyers using FHA 203b financing, HUD will treat for active termite infestation up to $1000.00. HUD will not do repairs.