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Buyer Select Agents Resources

Buyer Select Program

HUD is implementing the Buyer select program in contract areas 1P and 3P. This program allows buyers to choose their own closing agents rather than use HUD’s designated closing agent. The buyer select closing agent’s fees are the buyer’s responsibility. However, HUD will pay a portion of these fees if they are included on line 5 of the sales contract with the initial bid as long as there are sufficient funds remaining in the bid.

HUD Special Programs

ACA- Asset Control Area

Foreclosed properties conveyed back to FHA that are located in a designated Asset Control Area (ACA) are first offered for sale to an ACA participant. Under the ACA Program, state, county and local units of government, as well as approved nonprofit organizations may enter into a two-year contract with HUD requiring HUD to first make FHA properties located in an ACA exclusively available for sale to the ACA participant. ACA properties with an appraised value of $25,000 or less may be purchased for $100; all other properties sold under the ACA Program are offered for sale at a minimum discount of 50 percent of the appraised property value. For more information on this HUD special program, click here

NSP- Neighborhood Stabilization Program

The Neighborhood Stabilization Program (NSP) was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Through the purchase and redevelopment of foreclosed and abandoned homes and residential properties, the goal of the program is being realized. For information on the Neighborhood Stabilization Program (NSP), click here

GNND- Good Neighbor Next Door

The Good Neighbor Next Door (GNND) program allows law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians to contribute to community revitalization while becoming homeowners. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence. For more information on this program, click here

$ Dollar Home

HUD Dollar Home Program Homes are single-family homes that are acquired by the Federal Housing Administration (which is part of HUD) as a result of foreclosure actions. Single-family properties are made available through the program whenever FHA is unable to sell the homes for six months.  For more information on this program, click here

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