REO / Bank Owned and Foreclosed Homes For Sale
939 NORWOOD RD, SILVER SPRING, MD 20905
19707 TEAKWOOD CIR GERMANTOWN, MD 20874
Investor's alert! Bank owned home ready for your loving care! Great community with good amenities swimming pool, tennis courts and walking path. Large corner unit. Very quiet street. Main level has living room, family room with fireplace (could be a bedroom), second level has 3 good sized bedrooms. Cathedral ceiling, Jack &Jill bath. Must see! Do not miss this opportunity to own your real estate!
How to Submit your Bid
1. Create HUDHomeStore Account (agents)
If you are selling agent, your principal Broker must register before you can register with HUDHomestore.com. When you register as an associate broker or selling agent, you will need to use the NAID of your principal broker. You will also need your Real Estate license number and expiration date.
2. Placing the bid (agents)
All bids must be placed on the internet. Go to www.hudhomestore.com
1. Click on HUD HOMES for SALE
2. Click on STATE
3. Select Search mode: By City, Zip Code, Case Number, or Price Range
4. Click on the property
5. Below the information click on Submit Bid
6. Enter Broker federal Tax ID or Social Security Number
A. Enter Purchase Price from Line 3
B. Enter Financing Type from Line 4
C. Enter Closing Costs from Line 5 (Max 3%)
D. Enter Selling Agent Commission from Line 6a. (Max 3%/Min $1,250)
E. Enter type of purchaser from Line 8.
The purchaser’s full name, social security number, and address are required.
Investor bids for a company require the full company name, FIN, and address.
Barring any technical difficulties, winning bids are posted by 1:00 PM PM on the next business day following the bid deadline. The posted bid results should be considered preliminary acceptance subject to the review and approval of a correct and timely sales package. Owner occupant bid acceptance is also subject to verification of compliance with HUD owner occupant guidelines. In the case of an GNND/OND/TND sale, the award is subject to verification of information reported on the required HUD 9548-A contract addendum.
Bid Acceptance - If your bid is accepted it is your responsibility to send the original signed sales package to the Asset Manager including the purchaser’s prequalification letter or verification of cash within 48 hours (weekend and holidays excluded).
Over-bidding with FHA Financing - If the purchaser is obtaining FHA financing, your buyer will be required to use HUD’s FHA “AS-IS” appraisal. Therefore, if the purchaser overbids the appraised value and is obtaining FHA financing, the purchaser must pay the overbid difference in cash. This is because FHA will not insure a loan greater than the appraised value of the property
Pre-Qualification of Purchasers – Broker/agents are responsible to see that potential buyers have been pre-qualified for a loan by a lender. A pre-qualification letter on the lender’s letterhead must be submitted with the sales contract package.