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Premier Real Estate ~ Oregon & SW Washington Real Estate

Providing Real Estate services to the greater Portland and SW Washington markets. Specializing in luxory to investment property.

Helpful info for HUD Selling Brokers

The following is helpful information to share with home buyers, investors or any buyer of HUD homes.  You can attend a FREE HUD Home Selling Class to learn more about these tips and tricks.

  • Appraisals, check expiration date and order 2nd appraisals as early as possible.  Due to a declining market, many lenders are requiring 2nd appraisals.  If 2nd appraisal is need it should be ordered immedialty.
  • Forefeiture & Extension Policy -  2nd forfeiture and extension policy form is required to be signed and returned to PEMCO after escrow has been opened in the state of Oregon.
  • Under Writer letter is required for change of escrow.
  • PEMCO will not approve more than 2 extensions due to lender delays.  All contracts are subject to cancellation if they do not close on time.  Buyers may lose EM deposits.

To attend a HUD Selling Class please email bob@reidrealtyteam.com for the next available date.  Next class will be given at our Lake Oswego office this Friday from 9:00 to 11:30.  You will learn more about how to BID on HUD homes, where to place your HUD BIDS, tips and tricks for winning HUD BIDS, and how to write a HUD contract correctly the first time.

Published Wednesday, December 14, 2011 11:49 AM by Robert Reid

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