Now Released! Green Book 5th Edition
You have found your dream home and it is a HUD foreclosures. A HUD owned home is a home that was owned by someone with an FHA loan. HUD stands for Housing of Urban Development. You must have a real estate agent to bid on a HUD home, your realtor will be able to place the bid on your behalf. Bids are accepted during a given time period, after which the bidding is closed and all offers are opened and examined.
Once the Offer Period expires, the department will then choose the winning bidder. FHA 203K loans are the most popular financing used to purchase HUD homes. 3 Options Realty has a team of agents prepared to help you navigate your way through the process of purchasing a bank foreclosure.
Purchasers may be required to have a property re-winterized after the home inspection has been completed depending on the time …
Just about everyone knows that foreclosures offer an opportunity to pick up properties at discount prices. If the price of a property is lowered, the HUD will also review previous bids before moving on to new bids. It is my opinion that 95% of real estate agents have not sold a HUD home for sale or worst yet; most real estate agents don’t even know what one is. Buying a HUD home for sale is not anything like buying a home from a home owner.