1. Buying A HUD Home Realizing the American Dream of Home-Ownership and a Presentation on how you BID on a HUD HOME Contact us at Colin@dfwmetrohousing.com http://www.dfwmetrohousing.com

2. Interactive Question and answer session after presentation

3. This Presentation on buying a HUD Home is presented to you by Carrington Real Estate Services Presented by Colin Rosenthal TEL 214-704-4005 C 972-625-2612 O FAX 214-666-3227 Colin.rosenthal@carringtonres.com http://wwwdfwmetrohousing.com &

4. Your Client has the opportunity of Realizing their dream of home- ownership when buying a HUD Home

5. Looking for a HUD home Make sure Your Client is Pre-Approved and you or your broker have a valid NAID number. Have the lender letter or proof of funding available before bidding. HUD Will allow a maximum of 3% towards closing costs. HUD does not pay Title Insurance Now is the Time to Look for a HUD Home and help you buyer save money

6. You Broker must have a NAID number and you must be Registered under Their NAID number to BID You cannot bid without being registered….You must have a user id on www.hudhomestore.com as well as a bidding portal set up

7. http://www.hudhomestore.com Mortgage Service

8. Registering on hudhomestore.com

10. DFW Metro Housing Is a registered HUD Listing Agent with Sage Acquisitions The Only asset management companies in the DFW Metro-Plex Region 1D

11. HUD Will only assist with 3% Max in closing cost assistance and does not pay for the Title Policy You can bid whatever you wish to but please remember that HUD will only allow a maximum of 3% in closing cost assistance does not pay title insurance. If bidding higher than asking price, please add that amount to the 3.5% down in case the home does not appraise at contract price.

12. Please go to the http://www.hudhomestore.com/

13. Enter State City, Zip or Property Case Number State Case Number Zip Code City

14. Today there is only one home available in Little ELM.click the case number to proceed

15. Here you can tell when the bidding starts

16. Bidding time period daily at midnight in this instance Bidding Period

17. Available only to Owner Occupants and 7 days to BID

18. The listing information and the insurability

19. This home is insured with $550 in escrow

20. Insurability All homes purchased with an FHA loan must pass the appraisal and be 100% FHA Insurable. With a HUD home you can as in this instance, have $4849 added to the loan to make the home insurable with $4840 in escrow repairs. (Repairs required by the FHA Appraiser) Remember this can only be done with a HUD home using an FHA 203B loan

21. FHA 203B loan This term for a normal FHA loan is a 203B and when money if left in escrow it is called a FHA 203B plus repair escrow repair loan $5000 is the Max and if more is needed, we would go with a FHA 203K loan which will allow up to $30000 in repairs and escrow

22. Here is an example of the online addendum and links available on each listing

23. What repairs are needed and where can you find the list? Addendums

24. Disclosure addendum (TOP)

25. Property Condition Report

26. When will I know if my client has won the bid on the home? Normally you will know by lunch-time on the day after the bidding ends if you have won the bid on the home…HUD allow 45 days to close on a regular FHA 203B, VA and Conventional loan and 60 days to close on a FHA 203K. 30 days is allowed on a cash deal

27. Investors and Programs

28. You have received your acceptance E-mail

29. Here you will find everything you need

30. Here is the management information

31. You will receive an E-mail with a link to the self populating contract and addendum form. Please go directly to All necessary forms and amendments are available at this web-site for Sage Acquisitions

32. You will need your brokers signature Have your broker co-sign or have a letter giving you permission to sign on his behalf.

33. Buyers Choice of Title Company Buyer has option of Title Company REMEMBER Buyer pays for everything Make sure you askget the closing costs HUD makes available to buyers

34. Selling Agent Responibility

35. Listing Agent Responsibilities

36. Title Company Requirements

37. You have 2 days To generate the contract and addendum (Populates automatically) Have the buyer wet sign in blue Get the Earnest money in the form of a cashiers check and send to Listing agent Either overnight or personally hand in the complete package to Sage Acquisitions

38. To Recap The buyer will have to pay all the Title company expenses including the Title Policy so asking for closing cost assistance in absolutely necessary. The Max allowable closing cost assistance is 3% The buyers (Selling) agent will have to deliver the EM check to the listing agent within 48 hours. The Buyers agent will have to fill in the closing company addendum … Make sure you call the listing agent before submitting and ask for help. That is what we are here for.

39. Please feel free to contact me 7 days a week colin@dfwmetrohousing.com Colin Rosenthal 5912 Heron Cove Lane The Colony, TX 75056 972-625-2612 Office 214-704-4005 Cell http://www.dfwmetrohousing.com

40. On-line Videos from DFW Metro Housing Training –Helpful VideosHelpful Videos Entering a Bid for a Property Broker Log In and Checking Bids Modifying and Withdrawing Bids Registering a Selling Agent Resetting Your Password http://dfwmetrohousing.com