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 I am a real estate agent and I’d like to sell HUD homes. What do I need to do?
If you would like to sell HUD homes your broker must be registered with HUD and have an active “Name Address Identifier Number”, commonly referred to as a NAID #, issued by HUD. This number allows the real estate agents associated with the registered broker to submit bids for HUD homes electronically on behalf of their prospective purchasers. The registration process includes completing the information on SAMS and filling out forms known as SAMS 1111 and SAMS 1111-A, with attachments. HUD will then process the registration application and issues the NAID#. Once the broker has received their NAID number you as a real estate agent, under the broker’s NAID number, can then sell HUD homes.
As a broker for my company, how do I keep my NAID # current?
Beginning in 2005, annual renewal is required, regardless of whether changes to information or license renewal has occurred. As a broker you need to submit your SAMS forms and other documents to your local M & M contractor whom will then submit the documents to HUD for your renewal. You should receive a reminder in writing indicating that you need to renew approximately 60 days prior to your renewal anniversary.
Who are the current
HUD Designated Closing Agents and what are the benefits
of using them?
The Advantages of using HUD's Designated Closing Agents
are:
1. No Closing or Settlement Fee. HUD is
paying this as long as the buyer is using HUD's closing
agent.
2. Reissue Rate: Only HUD's Closing Agent is able
to offer a Reissue Rate on Title Insurance. This saves
the buyer 40% on title insurance costs
District of Columbia Properties
Legacy Title & Escrow
Inc.
3331 Toledo Terrace Suite 306
Hyattsville, MD 20782
301-853-0500
Maryland Properties
Lawyer's Advantage Title
Group
3355 St. John's Lane Suite J
Ellicott City, MD 21042
410-480-2800
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