HUD homes and Earnest Money

[Christopher Malone]

I am placing an offer on a HUD listing. One of the lines on the sales contact asks "The Earnest Money shall be held by..." When making an offer on a HUD listing doesn't HUD generally hold the Earnest Money? This is my first time offering on a HUD property, so I am not sure if i should find a title company, or just leave it blank. Any help/tips would be appreciated. Thanks in advance!

[Greg H.]

@Christopher Malone

Are you getting your info from the listing agent ? Based on your info the property is in the Good Neighbor Next Door period which is offered on select properties. All HUD bids are placed via HUDhomestore.com and not through the listing agent. You as an agent must have an NAID number to place bids

All HUD bids end at midnight on the day listed or when they become extended they end at midnight daily. Bid periods never end in the morning. If the property does not sell during the GNND period it will become available to Owner Occupants next for a period that depends whether the property is insured or uninsured. If it does not sell during the owner occupants period it will then become available to investors