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g. Bid Submission (09/30/2016)
i. Use of HUD Home Store
Selling brokers, HUD-approved Nonprofits, and Governmental Entities must submit bids for HUD REO Properties electronically through HUD Home Store.
In order to submit bids through HUD Home Store, selling brokers, HUD-approved Nonprofits, and Governmental Entities must:
• have applied for and been issued a Name and Address Identification (NAID); and
• be registered on HUD Home Store or successor site.
ii. Good Neighbor Next Door Bid and Eligibility Documentation
The GNND participant must submit with its bid:
• form HUD-9549, Good Neighbor Next Door Sales Program Personal Information Questionnaire;
• form HUD-9549-E, Employer Verification of Participant Employment; and
• one of the following pre-qualification questionnaires:
o form HUD-9549-A, Good Neighbor Next Door Sales Program - Law
Enforcement Officer;
o form HUD-9549-B, Good Neighbor Next Door Sales Program - Teacher; or
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IV. CLAIMS AND DISPOSITION B. Title II Disposition
2. REO Property Disposition
o form HUD-9549-C, Good Neighbor Next Door Sales Program -
Firefighter/Emergency Medical Technician.
iii. Back-up Bids
(A) Definition
A Back-up Bid is an acceptable bid for a HUD REO Property, held by HUD, should the winning bid fail to close.
(B) Standard
At the time of bidding, the selling broker may elect to have their bid held as a back-up bid. Should the winning bidder’s sale fail to close, HUD may offer the Property to back-up bidders before relisting the Property.
HUD will allow at least one back-up bidder and, in the case of GNND, two back-up bidders.