What Being a HUD-Approved Broker Means for You

For our clients:

Access to more inventory: As a client, this expands your options beyond the standard real estate market. You gain access to a specific inventory of properties owned by HUD, which can present unique opportunities.

Expert guidance through a specialized process: Our specialized knowledge enables us to guide you through the specific paperwork, bidding process, and timelines, ensuring a smooth transaction.

An opportunity for a good value: HUD homes are sold "as-is" and priced according to their appraised value in that condition. For buyers seeking a "fixer-upper," this presents an opportunity to purchase a property at a lower price.

Help with closing costs: In many HUD home sales, you can request that HUD pay up to 3% of your financing and closing

HUD NAID #PNRLTY2491

About HUD Homes

What are they? A HUD home is a residential property that was originally financed with a Federal Housing Administration (FHA) loan. When the homeowner defaults on payments, the FHA pays the lender and takes ownership of the property.

Conditions: HUD homes are sold "as-is," meaning HUD will not pay for any repairs. The asking price reflects the property's condition, which can sometimes be a bargain for buyers willing to make fixes.

Availability: HUD homes are advertised on the official website, HUDHomeStore.gov, and often on the Multiple Listing Service (MLS).

Exclusive sales period: For a set time, offers are accepted exclusively from owner-occupants (buyers who will live in the home as their primary residence). This helps keep prices affordable for first-time buyers.

Extended sales period: If the property does not sell, it becomes available to all interested buyers, including investors.

Bidding process: Your agent submits a bid for you online. All bids are reviewed at the end of the offer period, and the highest reasonable bid is typically accepted.

Financing: You can obtain financing through an FHA loan or another mortgage program. If extensive repairs are needed, a specialized FHA 203(k) loan can help finance both the purchase and renovation costs. 

For our agents: What being a HUD-approved broker means for you

Ability to submit offers: As an agent at Pina Realty

You are registered and authorized to submit bids on HUD properties on behalf of your clients. This is not possible for agents at non-approved brokerages.

Expanded listing opportunities: You can advertise, show, and submit offers on a segment of the market that other agents cannot. This allows you to offer more inventory and options to your clients.

Specialized expertise: Our brokerage is experienced in the unique nuances and requirements of HUD home transactions. This specialized knowledge sets you apart as an agent and ensures confidence in your clients.

Seamless transaction support: We provide the necessary Name and Address Identification (NAID) number issued by HUD to properly submit offers. For agents, this means you have the resources to facilitate these special transactions.

HUD NAID #PNRLTY2491