HUD Homes

HUD (Housing and Urban Development) Homes are usually some of the best deals available in the housing market,
They are foreclosures taken back from government loans. They play by a different set of rules, use their own contracts, rather than the standard MLS and state forms that we use for standard offers. They always do an inspection before they put their homes on the market and have a Property condition report available with all the properties they sell as well as an estimate of repairs. They recommend you have your own inspection done, but these reports will give you an idea of what your getting into if you want to bid on one of their homes.
They also have an electronic bidding system, you need to have an approved broker put in a bid for you electronically. I can do that for you. If you win the bid you than have 2 days to get the paperwork back to them via FedEx.
They also have a policy of putting their homes on the market for 10 days before looking at any bids and those first 10 days they will only accept offers from owner occupants or non-profits, only after 10 days will they look at investor bids.
They usually want a 45 day closing period from the day final papers are signed.

I have sold some happy buyers HUD Homes recently, so I am very familiar with their process.

If your interested in finding out more or want to buy a HUD home give me a call at 360-739-6981

No comments yet.

Leave a Reply

You must be logged in to post a comment.