Congratulations! Your bid has been accepted by the U.S. Department of Housing and Urban Development (HUD). At this time you should have received an automatically generated email indicating the acceptance of your bid. SELLING AGENT Please follow the 4 Steps below very carefully or your bid may be in jeopardy of being cancelled.
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.
STEP 2 - The above documents will be reviewed by KMM staff. Once approved and the earnest money check has been CONFIRMED received by the Local Listing Broker, KMM 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.
A sales contract from DocuSign will be emailed to the following;
The Selling Agent – The sales contract must be reviewed for complete accuracy then once approved is emailed to;
The Selling Broker – Sales contract execution can only be signed by the NAID registered selling broker then once executed is emailed to;
The Purchaser – All Purchasers on the accepted bid must have INDIVIDUAL unique email addresses to execute the sales contract via DocuSign then contract is emailed to;
The Buyer Select Closing Agent – The BSCA must execute the BSCA Closing Addendum included in the sales contract. Once completed the contract is emailed to;
K.M. Minemier & Associates – Once sales contract is ratified by KMM DocuSign will distribute via email the executed contract package to all signees.
STEP 4 - Please visit our HUD forms page for Utility Activation Requests and BSCA Pre & Post Closing Instructions.
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.
- If the Purchaser, Selling Broker or BSCA chooses not to use the e-Signature process, please notify of the paper contract election and download sales contract by logging intHUDHomestore.com and Click HERE for applicable sales contract addendums or visit www.kmmrealty.com/HUD/HUD-forms.php. Completed paper contracts must arrive in our office within 2 business days of this email.
VERIFING PURCHASER INFORMATION
- Log into www.HUDhomestore.com.
- 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 Check
- Must be certified funds
- $500 for a sales price below $50,000.00
- $1,000 for a sales price greater than or equal to $50,000.00
Mortgage 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 address
- Purchaser's name
- Loan amount and/or LTV
- Proof of Funds for down payment
- All gift letters must be notarized.
OTHER DOCUMENTS THAT MAY BE NEEDED FOR UPLOAD
- Letter of Authorization for a Broker Designated Signer (letter to the authorized selling agent associated with the Brokerage of the NAID Broker In Charge used to place the bid may sign on behalf of the broker)
- Articles of Organization (if the purchaser is an Investor purchasing the property under an LLC or Corporation)
- Social Security Card
- Gift Letter
- Other supporting documentation as requested by KMM.
Questions may be directed to .