HUD homes are owned by the Department of Housing and Urban Development. The Federal Government becomes the owner of these properties, when a FHA mortgage goes in default and the home owner is foreclosed on.
Click on this image to get your FREE Buyer's Guide!
I have specialized in selling HUD homes for more than 2 years. Between 30% and 50% of HUD homes are in the suburbs, they are in good condition and a home owner can move in without major repairs.
For frugal buyers HUD properties offer an excellent opportunity to buy a pretty home at a significant discount with very favorable financing terms underwritten by the US government.
Last August HUD selected new asset managers to market HUD properties. During most of October the new firms took over from the previous managers and there were hardly any new HUD listings.
However, this has changed. Quite a few new HUD listings came on the market all over Ohio in the past week. HUD’s listing brokers are now marketing HUD houses very aggressively.
The process of bidding on HUD homes is confusing to most buyers, even real estate agents. New HUD bidding guidelines were established in October 2010 and the time lines for submitting offers have changed, as well.
We summarize these rules in the completely new HUD Home Buyer’s Guide for 2010.
Whether you are an owner occupant home buyer, an investor or a real estate agent, you will benefit from this report. It contains all the information you will need to successfully bid on HUD homes.
The good news is, that you can have this report for free!
We just ask that you click on the picture of the Home Buyer’s Guide, enter your email in the window that will open and click the “Send” button.
Here are some of the topics we cover in the HUD Home Buyer’s Guide:
- Where to find HUD homes listed for sale
- 3 pre-requisites for buying a HUD home
- HUD disclosures you must know about
- The meaning of the 3 listing codes
- Understanding the time lines for submitting offers
- Earnest money deposit requirements
Click on the picture or enter your email in the box to the right of this post and download your free HUD Home Buyers Guide.
I hope you enjoy this report!
Feel free to call me at (614) 975-9650. I can help you with all your home buying questions!
Thanks for reading the susannenovak.com Blog!
Posted by: Susanne Novak, ABR, FIS, GRI
Columbus Real Estate Agent helping First Time Buyers.
(614) 975-9650