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!
- 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