How to Become a HUD Broker in Texas
When the United States Department of Housing and Urban Development (HUD) takes back a home from a borrower who forecloses on her loan, it is generally listed for sale on the open market, first to buyers who intend to occupy the property and, later, to investors. HUD does not have the personnel to sell homes directly so they list the homes with approved real estate brokers throughout the country. The process of becoming a HUD-approved broker in Texas is easy and it opens your brokerage to more business prospects.
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Instructions
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Fill out the Broker Certification Form. This can be found at Southwest Alliance of Asset Managers' website, listed in the resources. This company is HUD's Texas representative. You will need to complete both SAMS 1111 and 1111a.
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Gather all documentation required to be included with your form. This includes your Internal Revenue Service (IRS) payment coupon or Social Security number, a copy of your Texas broker's license, a copy of your Texas driver's license or passport, a copy of a document that is in your name and lists the address that you listed on the certification forms. This document can be a copy of a utility bill or a bank statement from within the last 30 days, or a copy of your lease agreement.
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Mail the package to the regional office. You will find the addresses for the Northern and Southern Texas regional offices in the Broker Certification Process Guidebook on Southwest Alliance's website (see Resources). They will mail your Name Address Identifier Number, which you will need before you are approved to list and sell HUD homes.
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Register for a My Buyer Center Account at the Southwest Alliance's website (see Resources). You must do this after you have become certified and before you can submit an offer on a property for a client.
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Tips & Warnings
Allow five to eight weeks for delivery of your NAID.
