HUD registered buyer's agent

4 Replies

Hey everyone! A listing from HUD popped up in the area in which I was looking for my first property (in NJ). From the website, only brokers who are registered with HUD are allowed to place bids on my behalf. There's a lookup tool on their website for this, but when I called one, he seemed to have no idea what I was talking about. My idea here is to just call more agents from that list. Does an agent have to specifically register with HUD to be on that list or does it just pull info for people with applicable licenses?

@Adrian Stuart Real Estate Brokerage Firms have to set up their registration to be HUD bidders. Licensed agents have to go in and set up their bidder accounts based on their brokers codes. The process takes less than 5 minutes and agents are doing themselves a serious disservice if they don't take the time to register for bidder capabilities for their clients. In my experience, HUD bids/contracts for Georgia are much easier and straightforward than other auction sites and standard retail purchases for investors.

@Adrian Stuart    Where in NJ?

One thing to keep in mind....are you going to be an owner/occupant or investor bidder?

Is the home in the Exclusive period or open to all bidders? 

Do you know in this area if investors can bid, or do most of the HUD homes go to owner occupants? Here in my area there are very few HUD homes any more and most of them get sold to Owner Occupants, so not much of an option for Investors.

@Deborah Gilbreath Thank you! I basically just had to have them ask their broker, and it was all sorted out and we're just waiting to hear back now! 

@Bruce Lynn Newark area. This is going to be my first property, so I'm looking to house hack as an owner occupant, but yeah, all the listings are in their exclusive period. I just assume that as soon as a listing becomes open to investors, one's already been staking the place out for the entire exclusive period and just snatches it as soon as they can.  

Yes @Bruce Lynn , I stalk them for weeks and then pounce!  =)  I really do.  I'm not in your area though.  I want to house hack, but my husband doesn't want to downsize.  We're in Texas were the homes are huge for the price.  Best of luck!  

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