Buying a HUD home.
Buying a HUD home is an excellent way to get a fantastic deal on a great house. There are HUD homes available in almost every county and in almost every price range. You don't need to fit into any particular income bracket, location or price. HUD homes come in all styles. Single family, condo, townhouse, duplex, mobile homes and multi-family properties are available.
Here's the best part: If you are the successful bidder on a HUD home, you only need $1000.00 earnest money and $100.00 down payment. Plus, HUD will pay 3% of the purchase price toward your closing costs!
What is a HUD home anyway?
Basically, a HUD home is another type of foreclosure property. There's a much longer explaination but I don't feel like typing it. When we meet I will give you the whole HUD 101 speech. It's much more entertaining and it comes with visual aids and occasionally a musical number.
Aren't they all junky?
No.
Aren't they all in bad areas?
No.
Aren't they all smelly?
No. Well....no. Not really. Kidding. Some are a bit stinky but the vast majority are not.
Aren't they all risky to buy?
NO. In fact, in many ways they are LESS risky.
How can I get one?
You have to make a bid.
Can I make a bid myself?
No, no, no. And why would you want to anyway? I can do it for you and you don't have to pay me.
Can I call any agent?
Yes. But most agents are not registered with HUD. And if they are not then they can't bid.
Are you sure I can't bid myself?
Yes I am. Stop asking dumb questions.
What makes you such an authority on these HUD homes anyway?
Well...since you asked. I am in a VERY small percentage of all agents in this country that regularly sell HUD homes. Most agents are not registered. Of those that are registered, many "don't like to bother with HUD homes".
Why not?
Because selling HUD homes is a very tricky area. There's lots of strategy involved with the bidding process. There's LOTS of paperwork. And it's a government thing, so that means that it's really a hassle. However, an agent with lots of experience in selling HUD homes can get you a deal on a home that can save you THOUSANDS on your purchase. Believe me, you want to work with an agent that has as much HUD experience as possible.
What else?
All you need to get a great deal on a HUD home is $1000.00 earnest money, $100.00 down payment and a pre-approval letter for your mortgage. That's it. Oh...and a great agent. Ed Amatrudo is the person I would recommend. He has saved his clients thousands on their home purchases.
Call him today. 615-300-1745.
Where can I learn more?
Right here: http://hudhomestore.com/HudHome/Index.aspx This is a great website that HUD recently put together. Make sure you call me first though so I can give you the HUD speech. That will make your life easier and more fun.
There's lots of good info here and you can even find HUD homes in your area. Please give me a call and I'll give you the whole song and dance about buying HUD homes. 615-300-1745.
