HUD Sales Incentives are Making a COMEBACK!

By
Real Estate Services with PEMCO Ltd.

Whether you are a selling agent or a Local Listing Broker, your wallet will like the return of the HUD Sales Incentives that took affect April 1st. The new three tiered structure is sales price based, giving you the opportunity to make anywhere between $500 to $1,000 in addition to the standard commission you receive as a selling agent! 

**Helpful Tips**

- You must complete the Broker Incentive Notification found on PEMCO's website

- The preliminary bid must be submitted on or after April 1, 2011

- A loan commitment letter from a lending institution must be received with the signed Sales Contract if the purchase is to be mortgaged. If paying cash, a certification letter must be received from a financial institution stating sufficient funds are available to complete the purchase.

- The words "Broker Bonus" must be written or typed at the top of the signed Sales Contract

- This is only effective in Georgia, Florida, Illinois and Indiana

- For GA and FL properties, the purchase must close the sale within 30 calendar days of contract acceptance

- For Illinois and Indiana properties, the purchaser must close the sale within 40 calendar days of contract execution

 

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  1. Theresa Berenger 05/25/2012 01:20 PM
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Rainer
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Kristin Nakama
PEMCO Ltd.

Thanks for the response everyone! CA hasn't been approved for any incentives as of yet. Sales under $25,000 will not receive a bonus, but they will receive the traditional commission paid by HUD.

May 05, 2011 06:06 PM
Anonymous #8
Anonymous
Leeza Morris

what about TX?

May 24, 2011 07:50 AM
Rainer
14,646
Kristin Nakama
PEMCO Ltd.

Texas has not been awarded any incentives. These are specific to Florida, Georgia, Illinois, and Indiana. 

May 24, 2011 01:02 PM
Rainer
11,383
Mitze McCurry
Real Estate Resource Svcs 800/274-2129
Real Estate Resource Services, Inc.

Any update on possible sales incentives for Califorina?

September 21, 2011 08:06 PM
Rainer
224,061
Donald Reich
Prudential Centennial

This sounds AWESOME! When will we have these incentices here in New York? It would definitely help.

May 25, 2012 01:34 PM
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Kristin Nakama

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