About This Course
With more than 40,000 HUD homes available annually, it is important for licenses to understand how the HUD selling process works. This course teaches licensees how homes enter the HUD home selling market, and how licensees and HUD contractors (field service managers and asset managers) interact within a HUD transaction. Discussed are HUD's online bidding process, the registration for licensees who wish to bid on HUD-owned homes as selling brokers, and how a licensee may become a HUD listing agent. Also discussed are the components of the HUD Sales Contract Package and the process for completing and delivering the package and delivering it to the Area Manager. The course concludes with a discussion of the regulatory and disclosure issues relating to HUD transactions, how closing costs and earnest money are handled in a HUD transaction; advertising rules relating to HUD-owned properties, and the types of financing available to purchasers of HUD homes.