STEP 1 – Selling Agent has two business days to complete these tasks commencing from the receipt of your bid acceptance from HUDhomestore. Please be aware that if you do not upload all of the required documents during this time frame, your bid will be cancelled.
*Please verify your bid information online. See Below. VERIFING PURCHASER INFORMATION*Upload Copy of Earnest Money – Earnest money must be in form of a bank check/money order/certified funds and made out to the Local Listing Broker. See Below. UPLOADING EARNEST MONEY*Upload Acceptable Form of Proof of Funds or Mortgage Prequalification See Below. UPLOADING PREQUALIFICATION/PROOF OF FUNDS*Other Document Uploads as Applicable – See Below. OTHER DOCUMENTS NEEDED FOR UPLOAD*Delivery and CONFIRMATION of receipt of earnest money deposit from the Local Listing Broker.
*Please verify your bid information online. See Below. VERIFING PURCHASER INFORMATION*Upload Copy of Earnest Money – Earnest money must be in form of a bank check/money order/certified funds and made out to the Local Listing Broker. See Below. UPLOADING EARNEST MONEY*Upload Acceptable Form of Proof of Funds or Mortgage Prequalification See Below. UPLOADING PREQUALIFICATION/PROOF OF FUNDS*Other Document Uploads as Applicable – See Below. OTHER DOCUMENTS NEEDED FOR UPLOAD*Delivery and CONFIRMATION of receipt of earnest money deposit from the Local Listing Broker.
Step 2
The above documents will be reviewed by asset manager. Once approved and the earnest money check has been CONFIRMED received by the Local Listing Broker, the asset manager will generate the eSignature contract via DocuSign.
Step 3
Selling Agent has until the following business day from receipt of the DocuSign envelope to complete eSignature process. Ultimately, it is the responsibility of the selling agent to ensure that this contract is signed by all parties.
Step 4
Fill out the forms for Utility Activation Requests. This is just permission to turn on utioities. It ts the purchasers responsibility to turn on utilities for the 48 hours allowed.
ITEMS OF NOTE
Social Security Number or Employer Identification Number may not be changed once the bid has been accepted. If this information is incorrect on the initial bid, the bid MUST be cancelled.
The selling agent may not sign on behalf of the NAID Selling Broker without notarized letter of authorization to do so. (See Below, Other Documents Needed for Upload.)
VERIFING PURCHASER INFORMATION
Log into www.HUDhomestore.gov.
Click the Accepted Bids tab.
Locate your case number and click on the Checklist link.
Verify Purchaser and Title Company. Email addresses provided on this screen must be accurate. These are the email addresses that documents will be sent to for eSignature.
Upload Earnest Money and Financing Documentation.
UPLOADING EARNEST MONEY AND PREQUALIFICATION/PROOF OF FUNDS
Before a contract can be sent for eSignature, earnest money and financing documents must both be uploaded.
Copy of the Earnest Money CheckMust be certified funds$500 for a sales price below $50,000.00$1,000 for a sales price greater than or equal to $50,000.00Mortgage Prequalification and/or Proof of Funds
For Cash sale, please provide proof of funds. Must be in the form of a bank statement or letter from the bank and it must include the purchaser's name and a date no older than 30 days.For non-FHA financing, please include a Prequalification letter that indicated the following:Property addressPurchaser's nameLoan amount and/or LTVProof of Funds for down paymentAll gift letters must be notarized.
Copy of the Earnest Money CheckMust be certified funds$500 for a sales price below $50,000.00$1,000 for a sales price greater than or equal to $50,000.00Mortgage Prequalification and/or Proof of Funds
For Cash sale, please provide proof of funds. Must be in the form of a bank statement or letter from the bank and it must include the purchaser's name and a date no older than 30 days.For non-FHA financing, please include a Prequalification letter that indicated the following:Property addressPurchaser's nameLoan amount and/or LTVProof of Funds for down paymentAll gift letters must be notarized.