The FHA foreclosed
property or the HUD property is a great investment for the homebuyers as well
as for the investors who wish to buy HUD HOMES. The HUD HOMES are the homes for
sale that are financed by FHA loan and that loan has been foreclosed. These
homes are sold via HUD contactors who market these properties and sell to interested
homebuyers or investors. It is always advisable to hire an agent who is authorized
by HUD as HUD has made it compulsory for any homebuyers to bid for the property
through the authorized agents only. There are many things that need to be considered
and some things that need to be avoided when buying HUD HOMES that are available
for sale. Let us have a look at few of the important tips:
·
Many
of the homebuyers just call any real estate agent or call the one who is used
in past but sometimes this not just the thing to be done. There are only few of
the agents who are aware of everything related to HUD HOME selling and could
buy them so choosing the agent who have good track record and experience in selling
HUD HOMES is always important thing to do.
·
HUD HOMES are meant to be sold to the public at convenient rates so paying too much
for these homes is not the thing to be done. HUD say that they sell the houses at
"Fair Market Value" and one must always make sure what the exact
market value is for that particular property. The experienced real estate agent
may help you with the proper market analysis and the prices that are not too high
and not too low.
· Before
buying any property, one must do in depth analysis of that and find out the flaws
so that you will not have to regret in future. HUD itself provides the "Property
Condition Report" that has detailed copy of the analyzed report of the property
to make the buyers available with the home condition but still having the
inspection done by you is the better and satisfactory option.
·
The
HUD houses are sold "As-Is" and when you buy a HUD property you need
to make your bid amount adjusted according to the repairs needed in the house.
Also HUD pays up to 5% of purchased price on some buyers closing costs. The real
estate agents will certainly let you know the closing cost HUD pays so that you
can make the better decision.
By keeping few
of the important things in mind you can certainly maximize the advantages you
have in buying HUD HOMES and will certainly enjoy fair and profitable deals at
your specifications.
Any authorized HUD HOMES agent can help you buy or sell these houses. Contact Authorized HUD HOMES agent
click here
Or go to website: http://www.sdhudhomes.org/
Porama Srijinda, MBA.
REALTOR®, CIPS
Broker Associate at Keller Williams Realty.
Authorized HUD Agent.
Short Sale and Equator Experiences,
Ca. DRE. Lic# 01838443
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