Tanis Group LLC, Real Estate, West Dundee, IL

 

HUD PROPERTY GUIDELINES
   
 
1.            ALWAYS check www.hudhomestore.com for availability prior to showing a HUD property.  If you no longer see the property on the Hudhomestore site it means a winning bid has been selected and the property is no longer available. We strive to deliver accurate property status on the MLS but due to offers submitted by agents directly to the HUD site, status can change at any time.
2.            Any licensed real estate agent sponsored by a broker registered with HUD that has an active NAID may show and submit bids on behalf of purchasers. Brokers and agents can check their current NAID Registration Status at HUDHomestore.com.
3.            All showings are scheduled through the MLS SHOWING ASSIST
4.            All properties are sold “AS IS”
5.     Exclusive Listing Period – IN and IE. There is a 15 day exclusive listing period for owner occupants for IN (insured) and IE (insured with escrow) properties. All bids received in the first 10 days are treated as having been received simultaneously and if no winning bid is received by the 10th day, the bids are reviewed daily for the remainder of the exclusive listing period for owner occupant purchasers only. After the 15 days, all general public bids will be accepted.
6.            Exclusive Listing Period – UI. There is 5 day exclusive listing period for owner occupants for UI (uninsured) properties.   All bids received in the first 5 days are treated as having been received simultaneously and if no winning bid is received by the 5th day, the property is made available to all bidders.
7.            A Property Condition report is available on the www.HUDHomestore.comsite under the addendums tab; it is provided to assist the purchaser in assessing the condition of the property. It is NOT a guarantee or warrant that the property is free of visible or hidden defects. All purchasers are strongly urged to complete a full property inspection with the utilities activated to identify the current condition of the property and any repairs that may need to be completed.
8.            If your offer has been accepted, you are required to deliver the signed sales contract and all addenda to HUD within two (2) business days after bid acceptance. To obtain the complete sales package, check the MLS sheet and go to one of these sites:
 
 
 

EVERY DOCUMENT necessary to consummate the transaction must be completely signed in blue ink, sealed and delivered, along with the earnest money deposit within 2 business days from award notification (check your Review Bid Screen at the HUDHomestore.com). Not doing so may cost the buyer a property and you a commission.

 

 For more information including helpful FAQs, videos and
further detailed instructions go to: