Registered HUD & VA Brokerage Services

Coldwell Banker Traditions is a registered HUD-approved broker, we specialize in helping buyers navigate the unique landscape of government-owned foreclosures. Whether you are a first-time homebuyer or an experienced investor, our official registration allows us to place bids and manage transactions for any HUD or VA foreclosure property. We provide the expert guidance needed to navigate the specific bidding timelines and compliance requirements of government sales.

So, if you are Looking to bid on a HUD or VA foreclosure? You need an approved partner.
Not every agent can place bids on government-owned homes. We are proud to be a registered HUD Broker, meaning we have the official credentials to help you bid on any HUD or VA property currently on the market. From understanding the "Lottery" period to finalizing the deed, we handle the paperwork so you can focus on winning the home.

Here is a Step-by-Step Guide

Step 1: Preparation & Pre-Qualification

To bid on a HUD/VA property, you must first have proof of funds or a lender’s pre-approval.

• For Financed Buyers: Obtain a pre-approval letter specifically mentioning the loan type (FHA, VA, or Conventional). Ensure your lender understands HUD "Insurability".
• For Cash Buyers: You will need to provide a bank statement dated within the last 30 days showing sufficient funds.
• The "As-Is" Acknowledgment: Understand that HUD and VA do not offer to pay for repairs or warranties. 

Step 2: Find Your Property

• • • Search Listings: We will help you identify homes that meet your criteria on the official HUD and VA portals.
    • Check "Bidding Cycles": Many homes are first offered to Owner-Occupants during an exclusive listing period before opening to investors. 

Step 3: Submit Your Official Bid

• • • Broker Submission: Bids must be submitted electronically through our portal. We will need your legal name, SSN/TIN, and current address to finalize the entry.
    • Earnest Money Deposit (EMD): If your bid is accepted, you must provide a certified check (typically $500 to $2,000 depending on the price) payable to the designated escrow agent. 

Step 4: The 48-Hour Deadline

Once a bid is accepted, the clock starts.

• • • You must deliver the original signed sales contract and the EMD check to the listing broker or designated closing agent within 48 business hours.
    • Failure to meet this deadline typically results in the bid being canceled and awarded to the next backup offer. 

Step 5: Inspection & Closing

• • • 15-Day Inspection: You have a 15-day window to perform a professional home inspection for your own knowledge.
    • No Repairs: If the inspection finds issues, you may cancel the contract, but the government will usually not negotiate on price or repairs. 

Ready to start?
Contact us today to get connected with an Agent that can help you purchase a HUD/VA property in your area, contact:

Shantia Hollins-Thomas
Director of Relocation and Referral Services
757-585-2954
shantia@cbtraditions.com