Choosing whether or not you wish to work with a real estate agent when buying a home is an optional choice with most forms of real estate. HUD homes on the other hand, require a realtor to assist you throughout the process. In addition to this requirement, the realtor must be HUD-approved. Buyers of HUD homes can begin the process themselves, and even view HUD homes they find on their own. However, the HUD-approved real estate agent is the only one who can place a bid on a HUD Home.
When choosing a real estate agent, you will need to ensure they are registered with what’s known as a HUD NAID. NAID stands for “Name and Address Identifier” and helps HUD recognize agents. Agents must resubmit their information packets annually and pay regular fees in order to maintain their status as HUD-approved realtors.
How to Find HUD Approved Realtors
You can find agents in several different ways. Your local realtor organization generally has lists of all the agents which work in that area. Because the list contains so many agents, chances are good you will find a few that are HUD-approved, but it may take time to comb through the list to find the right agent.
Another option is to utilize a reputable source for HUD home listings. These websites also often pull data from the HUD-approved database to create a list of agents in your area. Housinglist contains thousands of listings of HUD homes throughout the country and associated realtors. This allows buyers to save time by browsing available HUD homes in their area and then contacting the realtor managing each listing directly. Each HUD home listing will display information about the home’s value, contact information, and more. This not only makes the process convenient and simple, but it also saves home-buyers a lot of time, which is an important commodity in today’s world.
When choosing a real estate agent for the purchase of your HUD home, make sure to look around and find one you feel comfortable with. Like any home-buying decision, the choice of agent you work with should not be taken lightly. This is someone you should feel confident in, and know they are on your side to ensure you get the home at the best price possible. If you don’t like the agent you reached out to, any HUD-approved agent can help submit the appropriate paperwork for a HUD listing, as long as they are licensed in that area.
We wish you luck in your home buying journey, and remind you that finding a real estate agent is just the beginning of this rewarding path toward homeownership. Housinglist is here to help every step of the way.