HUD Buyer Select Program
HUD Home Purchase: How to Choose a Closing Agent with Buyer's Select
In 2013, the Department of Housing and Urban Development (HUD) modified its requirements for the purchase of HUD-owned real estate by creating the Buyer Select Closing Agent Program. A HUD home is a one to four-unit residence that has been acquired by HUD after a foreclosure on a Federal Housing Administration home loan. HUD acquires the property, and then puts it up for sale to try to recover the foreclosure loss.
Under Buyer Select Program, the responsibility of the home closing functions transfers from HUD to the closing agent, allowing the buyers to select an agent of their choice. Closing agents are assigned a Title ID number unique to their office (ours is COLLIE02). Additionally, some asset managers require an original blue signature page from the closing agent. To expedite your process, we have posted a copy of the sample page on the Buyer Select Addendum for you to use while filling our your forms, including our Title ID number, a blue signature, and all of our contact information.
Collier Title Services, Inc. is a HUD approved closing agent and has an experiences staff specifically for HUD real estate purchases. If you are anticipating a HUD purchase or are in need of a closing agent, feel free to contact us at 270-763-6589.
Click on link to download your form to choose Collier Title Services, Inc. as Buyer Select Closing Agent for your HUD-owned purchase.