This webinar provided information on successfully selling HUD homes. Key points included: - Changes to the HUD contract approval process and how to bid on properties through the HUDHomeStore website. - Details on bidding requirements like owner occupancy, FHA financing, and meeting the listed price. - Incentives available like a $100 down payment program through Denver for the next 12 months. - Requirements and process for submitting bids, delivering contracts, and closing on HUD properties.

1. Successfully Selling HUD Homes Webinar
Dunamis Realty Group
6507 Jester Blvd.
Suite 507
Austin, TX 78750
Tel. 512.372.8113 / 1.877.773.0007
Fax. 512.372.4858
Email: KimBramlette@Aol.com
Marketing@DunamisRealty.com

2. Kim Bramlette, CRS, SFR
Broker/Owner
Direct # 512.705.1932
Office # 512.372.8113 or 1.877.773.0007
E-mail: KimBramlette@aol.com
Office Location:
6507 Jester Blvd. Suite 507
Austin, TX 78750

3. * Changes to HUD Contract
 HomeTelos, Matt Martin Real Estate Management & Pemco, LTD.
Have replaced Southwest Alliance
* www.HUDHomeStore.com
 Place all bids on site
 Register under a HUD Certified Broker (Broker Must be
registered first)
• Exclusive Owner-Occupant Period
• Earnest Money MUST be submitted with the Contract
• Up to 3% Buyers Agent Commission
• Up to 3% Closing Cost

4. Effective 10/20/2011
Denver Home Ownership Center has approved a FHA $100
Down Payment Sales incentives for the NEXT 12 MONTHS!
Bid Requirements: (Must have all 3, only applies to HUD Properties)
 Owner Occupant Purchases
 FHA Insured Financing Only
 Full Price bids based on current list price
Properties awarded bids prior to 10/20/2011 are not eligible for
this incentive.
Loan amount cannot exceed the full appraised value.

5. * Property that was originally insured by FHA
when Purchased.
* If the owner of a FHA insured loan defaults,
the Bank/Lender forecloses and files a claim
with HUD. HUD did not foreclose on owner.
* The Federal Government established HUD
(U.S. Department of Housing and Urban
Development) to make these homes available
to the public through a contractual process.

6. * Just about anyone may purchase a HUD
property!
* Listing Brokers or associated individuals who
are privileged to information about HUD
listings prior to the Public are NOT permitted
to purchase HUD homes!
* Owner Occupant Buyers receive first
preference to Bid

7. * All HUD homes that are available to Bid on
are viewable at www.HUDHomeStore.com
* HUD properties are also advertised by Local
Listing Brokers online and in Multiple Listing
Services!
* All buyers MUST have a HUD approved Real
Estate Professional submit a bid on a home!

8. Select Bidder at the Right corner on the
HUDHomeStore.com home page! Make sure your Broker
has already registered as a Bidder!
There are helpful video links for bidding registration. As
well as a place to check the status of your Brokers NAID
number! Make sure you stay up –to-date on your NAID
expiration! There is no longer email notification for
upcoming expiration dates!

9. Both Pages are
very useful with
lots of
information!

16. * HUD is NOT a lending institution, however,
purchasers of HUD homes MAY qualify for FHA-
Insured Mortgages
* Buyers are NOT required to use FHA-insured Loans
* Buyers can use conventional financing with a fixed
or adjustable rate mortgage
* VA Loans
* Cash

17. Varies by Property
Insurable Properties
*Meet insurance requirements for FHA financing
Insurable with Escrow
*Meet insurance requirements for FHA financing
with repair Escrow

20. * Varies by Property – FHA appraiser deemed $5000 or more in
required repairs to be FHA insurable for 203(b)
* After 5 day exclusive bid period, bidding opens to ALL
purchasers on a daily bidding (ending at Midnight each day).
* FHA won’t insure property based on required repairs with 203
(b) financing. Buyer must have 203 (k) or cash to purchase!

22. *Homes are Sold AS-IS!!
*HUD will not make ANY repairs. All
disclosures deemed reliable but not
guaranteed.
*Highly Recommended to have a professional
home inspection!!
* Also look into home protection insurance for
your clients, some HUD Homes will qualify!

23. *All Bids on HUD homes are submitted on www.HUDHomeStore.com
You need a Place a bid on
Registered the Property
HUD Realtor Details page
to place a Bid. for the
property you
are bidding!
* The listing price is determined by HUD to be an estimate of the properties current fair market value
* On the Properties screen click “Submit a Bid”
* You will need your Brokers NAID # to continue
* Once your bid is accepted you will be notified via E-mail from the Asset Manager & the Bid information will
be posted on the website.

24. When a bid is awarded, the Realtor has 2
business days to deliver contracts to the
Asset Manager:
*Detail is IMPORTANT
* ALL Documents must be signed in BLUE ink!, and
delivered to the Asset Manager
* Earnest Money MUST be made out to HUD
* Missing any of these details may cost the buyer a
property & YOUR commission!!

25. Required forms
*Each Asset Management Company has a different
sales contract and guidelines
*Addendums – Earnest Money Guidelines,
Electronic filing Addendum, Owner Occupant
Certificate (if applicable), Radon Gas & Mold, LBP,
Earnest Money Forfeiture & Extension Policy,
Home Inspection…. etc…
*Pre-Approval letter from a certified/ licensed
Lender

26. *Earnest amount of $500.00 for properties under $50K
and $1000 for properties over $50K for PEMCO or
HomeTelos. Matt Martin 1% over $50,000 with
maximum $2000.
* Must be certified funds made out to HUD
* Earnest Money MUST be submitted with the Sales
Contract
* Money is held by Closing Agent
* AM will notify of the Closing Agent
* AM may be listed on Property Condition Summary

27. Buyer has 15 Days to inspect the property
once contract is executed.
You must contact the FSM for approval to
turn on utilities and follow their guidelines
on De-Winterized/Winterization etc.
Buyer has to turn on utilities in their name!

28. * Buyers Agent has to order Title – you will get
an email from the AM or Closing Company
* Buyers Agent has to order Survey – Closing
Agent does NOT do this!
* Schedule closing with Closing Agent
(Luna & Luna)
* If you are having trouble contacting Closing
Agent don’t give UP! You may have to call
multiple times!

29. * Extensions for up to 15 days MAY be granted
* Submit letter from lender starting why you
need an extension!
* $375 Fee to extend (fee’s vary)
* Make sure this is done 6-7 days business days
prior to contract expiration date!
* There is NO automatic extension!!

30. Never give a HUD Key to Anyone!!
HUD does not provide Buyers keys at closing. Be
prepared with Locksmith after closing.
ABSOLUTELY NO REPAIRS prior to closing!!
All HUD Homes are sold AS-IS
EDUCATION – Stay informed and connected
policies, forms and information changes all the
time!!

31. www.HomeTelosFirst.com
Why Search on HomeTelosFirst:
•Comprehensive info and Tools
•Detailed Information on buyer Programs and
Register with www.HomeTelosFirst.com to
incentives
submit bids for HUD properties under
HomeTelos Management. •Founded in 2001, HomeTelos is a privately held
Click “Register” and follow the directions firm located in Dallas, TX.
provided.
Primary Broker Must be registered first
with www.HUDHomeStore.com
Broker must have a current NAID number.

32.  Real Estate Professionals Tab: When you prepare and submit a HUD-9548
 My HUD Contracts sales contract & addenda package for
 HUD Closing Agents HomeTelos:
 HUD Sales Forms
 Training Videos
•Simply enter the exact offer terms and
HomeTelos will generate a printable
 Register with HomeTelos
contract package for your buyer’s
signature.
•HomeTelos provides you with the tools to
insure that you submit a complete and
HomeTelos must receive the original
accurate contract package the first time.
signed contract and all required addenda
within 2 business days from the offer
acknowledged date.
Contracts not received within two
business days are subject to bid
acknowledgement cancellation.

37. Please raise your Hand if you have ANY Questions!!
For questions specific to a
property please call Kim
Bramlette directly at Dunamis Realty Group, LLC
Kim Bramlette, CRS, SFR
512.705.1932!
Broker / Owner
Direct #512.705.1932
Office #512.372.8113
Fax # 512.372.4858
Email: KimBramlette@Aol.com
Marketing@DunamisRealty.com