News Flash! HUD has decided to spring forward by approving bonuses for selling agents in Georgia and Florida! This incentive is designed to jump start the spring selling season and help buyers and sellers take advantage of the record low interest rates available now.
There are a few conditions that must be met. Before the selling agent earns the bonus, contracts on properties located in Florida and Georgia must close within 30 days of execution. Preliminary bids must be submitted on or after April 1, 2011. The words “Broker Bonus” must be written or typed at the top of the signed Sales Contract, and if the property is mortgaged, a loan commitment letter from a financial institution must be received with the contract. Cash buyers must provide a certification letter from a financial institution stating sufficient funds are available. The selling agent must complete and sign the HUD Notification regarding the broker bonus sales initiative.
Both states are making progress at coming back from the housing crisis. With housing prices and interest rates down, affordability is at an all time high.
Properties sold with a sales price of $25,000 to $75,000 will earn the selling agent a bonus of $500, while sales prices between $75,001 to $150,000 will earn a bonus of $750. Those sales at $150,001 and above sales prices will earn a $1,000 bonus.
Visit our website for more information about buying and selling HUD homes.