How do you buy a HUD home?
HUD (Department of Housing and Urban Development) homes are purchased using a bidding process.
HUDs are often a great opportunity to obtain a property at well under market value. The buying process is very different from the regular purchase process but it is not difficult! I can guide you thru the purchase process. You can also find more info at http://www.mcbreo.com/index.htm.
You will be able to find more property info as well as a complete inspection report by visiting http://www.mcbreo.com/st_comain.htm and entering the HUD Property Case Number (FHA#) for each individual listing. You can also search by city or county.
HUD homes will often need work. Sometimes, just cosmetic improvements are needed. Other times, major improvements are required. I have seen HUDs in almost perfect condition. You just have to get out there to see them!
HUDs purpose is to promote home ownership, so HUD homes are first made available to owner occupants only until midnight of the 10th day listed. If an owner occupant bidder is not successful, then bidding is open to investors.
Reviewing the information provided on the website can be helpful in understanding the current market conditions related to HUD homes in different areas. For example: In some areas, most HUD homes are being snagged up by owner occupants who are bidding at full price or above.
You can check bid results here: http://hud2.towerauction.net/e7/results/CO.htm and bid statistics at: http://hud2.towerauction.net/e7/stats/CO.htm.
I am an authorized HUD buyers agent and would be happy to help you consider the purchase of a HUD home or any other home for sale in the Denver Metro area!
Your friend in real estate,
Shelli Dore
303-942-0648
www.ShelliDore.com
...Remember! The next time you are in a conversation with someone who is thinking about a move - IN ANY CITY OR STATE IN THE US OR CANADA - call me first! I can help make sure your friends, family members and work associates are very well taken care of.