Regardless how much you wish not to believe the truth. July 16, 2008 at 11: If there had been damage under the slab that would have been a deal breaker. One of the most important things a potential owner occupant should do is find a real estate agent who is familiar with HUD. Web was stuck during loading and thought I had cancelled…… See next post.
Real estate agents who have experience bidding on HUD homes will often use the 88-percent strategy.
Buying a HUD Home for yourself can be equally rewarding. I watched the HUD website for almost a year before my house was listed.
A HUD-approved real estate broker can show you the property when you've located a home that you'd like to see. HUD wants to sell the property as quickly as possible.
It is very informative. Here's a scenario that shows how these homes come back onto the market. June 22, 2014 at 2: Be realistic about bidding. The price of a home in need of repairs is adjusted downward to reflect the investment a new owner would have to make to improve it and make it livable. You'll also get instant access to my interview of a husband and father who retired at the ripe old age of.
Then HUD sells the home. If they can make a profit, great. It took a very long time, over a year, to find a foreclosure that met this criteria.
Please email me back as soon as you can. For an explanation of this bid logic, I'll defer to Al Hardymon. Some homes, however, were in near move-in condition. First, you get to bid on the home first.
Did not know this posting showed up. John uses an FHA loan to buy a house.