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Old 09-13-2007, 08:52 PM
178 posts, read 482,168 times
Reputation: 28


Can someone tell me if buying a HUD home is relatively easy? Looks like you just submit a bid, give your earnest money..and wait.

They do an evaluation on the place but should you get your own as well?

I'm just wondering...as i'm looking for my first home and seen some Hud homes that are great deals in up and coming areas.


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Old 09-14-2007, 06:12 AM
Location: Grayson
65 posts, read 198,409 times
Reputation: 21
HUD is a system to buying a home. The owner occupy gets first shot a home, no matter if your bid is lower than someone else's. Where are you looking to purchase? First step is to locate where you want to purchase. Second you should look on the HUD site for your area and see what's available and if you would like to see the home. I would suggest that you ride by and make sure what kind of shape the home is in (some are wrecked and some are like brand new, remember these are foreclosed homes). Once you see a home or homes (because of the bidding process, you may want to have more than one choice) you think you might want to bid on locate a HUD agent and discuss the homes with him or her. They can get you into the home for inspection (all HUD agents have keys to enter properties). HUD's schedule runs like this; Wednesday is new property realease to public and investors(2 week bidding period); Thursday is special program homes release day for teachers, public servants(firemen, police, etc.); Friday is relisted discounted properties day. Get with your agent and summit bids. It is usually about a two week peiod before notification of aquisition. I am a HUD agent. I don't want to solicite and I won't. In this forum I cannot explain everything to you about HUD. You can go to the HUD-Pemco website and read the 400 pages of info or go to my profile and get my website info and I have a breakdown of the whole process in shorter more to the point articles about the process and financing these types of homes.

Last edited by jxu66; 09-14-2007 at 06:34 AM..
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Old 09-15-2007, 08:17 PM
178 posts, read 482,168 times
Reputation: 28
Thanks Bill...i'll check your site out

I'm not sure if I will get one...but i did look at one in downtown atlanta. I just want to make sure I look at all oppurinities out there
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