HUD Homes... Some Need a little or a lot of Repairs...
Some are like New !
You can typically save a lot of money by purchasing a HUD home.
HUD is a Acronym - Housing and Urban Development.
What is a HUD home? HUD homes are government foreclosed homes that were financed with FHA financing. FHA is a government backed loan and guarantees the lender the payoff in case of default by the homeowner. Basically if the lender has to foreclose on the home, HUD pays the lender and HUD takes the home and then resales it.
The home may need some home improvements or it can need a lot of home improvements. Either way HUD homes are usually a great value.
HUD homes are one of my specialty areas in real estate.
I am a registered HUD agent and familiar and knowledgeable with the process of electronic bidding, repairs/escrow (if required), financing, and inspections for HUD homes. In order to see a HUD home, HUD property or Bank Foreclosure and place a bid...you must have a registered agent.
HUD works by electronic bidding system open to the public. Programs for owner occupants, teachers, police persons, and investors are available. New HUD home listings come on the market weekly and remain there normally 10 days for owner occupants to bid on, then the property goes on to include investors if it was not sold to owner occupant.
Once the bids are placed you will know the following day if you won the bid on your HUD home or HUD real estate property. I would then overnight all the required paperwork to HUD along with the earnest deposit. HUD works on a strict time frame during the entire process, i.e. The bidding paperwork with earnest deposit must be received within 48 hours or less or the property will be put back on market (BOM). This is just one of several other time lines.
FREE search for HUD Homes on this site. Call me for assistance to locate a HUD home or follow the instructions to see the HUD homes for sale in San Antonio Texas, Texas, Bexar County and surrounding areas. You can also search for HUD homes for sale anywhere in the United States. Write down the address of the HUD home you are interested in so I can provide you with additional information about the property. In most cases I can send you more pictures, plus review the property condition report and if it meets with your requirements, show you the property.
I can also assist you with your mortgage loan for financing a HUD home. Not all lenders are registered as a HUD lenders and/or may require lender repairs prior to closing, which HUD does not allow. All home improvements and repairs are done after closing. Call me for more details.
Call me for assistance: (210) 256.1636
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