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08-15-2008, 10:13 AM
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Junior Member
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Join Date: Sep 2007
4 posts, read 3,533 times
Reputation: 10
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Finding an agent for a HUD home
I need some advice on how to find an agent.
However, a home just went on HUD in one of the subdivisions I would like to acquire a home in. The house is in very good condition and priced well below market. I would like to see it and probably bid on it.
How do I find an agent for a HUD home? Can any agent handle the case or does it need to be from the list of "brokers" from HUD's website?
Also, when finding an agent- do you call and set up an appointment or just walk into the office and someone will assist you?
Obviously, this is a first time experience for me.
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08-15-2008, 10:22 AM
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Real Estate Agent
Status:
"Thinking about getting motivated to work on a project..."
(set 5 days ago)
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Join Date: Oct 2007
Location: Salem, OR
4,394 posts, read 2,666,854 times
Reputation: 1653
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It has to be one of the agents listed on the HUD website. There is a form that agents have to fill out in order to fill out the online bid form.
I would look who is on the list and google them to see if you can find out any information about them.
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08-15-2008, 10:28 AM
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Junior Member
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Join Date: Sep 2007
4 posts, read 3,533 times
Reputation: 10
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Thank you!
That helps.
I have looked at the previous "bid results" to see which agents were used the most. Is this a good method, too? I figure if many people use the same agent... they must be good!
I will Google.
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08-16-2008, 08:33 AM
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Real Estate Agent
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Join Date: May 2007
Location: Palm Coast, Fl
2,010 posts, read 1,555,978 times
Reputation: 641
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They will be more experienced with the process and probably more experienced with the special financing that is available but there really isn't much they can do with negotiating. There isn't negotiating...HUD either accepts the bid or it doesn't. Be prepared that there are certain charges that HUD can not pay even if it's customary in your area. There is plenty of information...a booklet...on the HUD website for you read so you are more familiar with the process also.
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08-16-2008, 09:56 AM
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Real Estate Agent
Status:
"Thinking about getting motivated to work on a project..."
(set 5 days ago)
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Join Date: Oct 2007
Location: Salem, OR
4,394 posts, read 2,666,854 times
Reputation: 1653
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I agree with PC. There is no negotiation, you submit. They say yes or no. It is that basic. Agents that do a lot of HUD's tend to work with a lot of investors.
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08-16-2008, 09:06 PM
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Equal Opportunity Offender
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Join Date: Oct 2006
Location: San Antonio
2,182 posts, read 1,135,156 times
Reputation: 1109
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It depends on where you're at. I have a HUD key and I'm not on those sites. In Texas, as long as you're a licensed Realtor, you can get a HUD key.
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