HUD Real Estate Agents FAQs

When can the buyer get a home inspection done?
The buyer has a 15 day period after contract ratification (execution) to activate utilities and complete the home inspection. All inspections, tests, and risk assessments are performed at the purchaser's expense.
How do I activate utilities for a home inspection?
The buyer must request permission to activate utilities with the Field Service Management (FSM) company assigned to the property. The FSM assigned to each property is posted under the Agent Info tab within the Property Details page of each listing on HUDHomeStore.com. For your convenience, the appropriate FSM will also be listed on the first page of the copy of your ratified sales contract.

Links to the various FSM company websites can be found within the Forms section of each specific state under our Resources for Agent Portal.

Please be advised that each FSM has different guidelines and policies for utility activation. A deposit may be required and in some cases the deposit is non-refundable. It is important to review and understand the specifications of each FSM company.

Please be advised that the FSM is a sole and separate company from the Asset Management company. Although we can help to answer basic procedural questions, we encourage clients to please contact the assigned FSM directly with any specific questions regarding the utility activation process.

BLB Resources, Inc. has Customer Service Representatives available to assist you. For questions regarding properties, please call (949) 751-1780, Monday through Friday from 8:00 AM to 6:00 PM PST, or you can reach us through our Contact form.

When can an investor purchaser submit an offer for a property?
Investors may submit a bid once a property enters the Extended Listing Period. This period begins once the Exclusive Listing Period is over.

If the property is being sold as Insured (IN) or Insured with Escrow (IE), the Exclusive Listing Period is 15 days for Owner Occupant purchasers, Non-Profit Organizations, and Government Entities - please be advised that when we refer to days on market we mean active days on market. Bids received during the first 10 days are considered to be received simultaneously, and the initial bid review is on the 11th day of the Exclusive Listing Period. If there is no winning bid, bids continue to be reviewed on a daily basis until the 15-day period ends.

If the property is Uninsured (UI) or Uninsured 203(k) eligible (UK), the Exclusive Listing Period is 5 days for owner-occupant buyers, non-profit organizations, and government entities. Bids received during these 5 days are considered as though they are received simultaneously, and are not opened until the 6th day of the Exclusive Listing Period.

If the sale is canceled, will the EMD be refunded?
EMD refunds and forfeitures are reviewed on a case by case basis. Please review the HUD Forfeiture and Extension Policy for specific scenarios regarding EMD forfeitures/refunds.

For more information, visit:
https://blbresources.com/resources/NY

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Rebecca M. VanDorn
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