HUD Homes, we have often thought them to be drab, old, run down, but no longer. HUD homes are your neighbor next door, the custom home around the corner, the newer home in a gated community. Yes, the sterotype is NO longer! We now have homes that all of us would be proud to call home. If you think they won't be coming to your area, your dead wrong, because 30% of all the homes sold, just in the last 5 years, were homes with FHA financing, and those are the home's that once gone to foreclosure, come back as HUD homes. That could be alot of homes!
There is only one difference though, to acquire these homes it's important to get educated on just how to find, bid on them, and then navigate through the escrow process. There is no State contract, there are very specific timelines that need to be followed, and they have wonderful programs attached to them to help buyers and investors purchase them. There are even programs in place to purchase a home for half the price with HUD taking back a silent second mortgage on your behalf - sounds unbelievable, but it's true!!
It's actually a very easy process once you understand it, and getting up to speed on what it takes to purchase a HUD home, is of utmost importance. How do you get the training? It's simple, find an agent who has had training on HUD Home Sales or you can contact your local HUD LLB (local listing broker) in your community and if you're having difficulty then go the HUD website at http://www.hudhomestore.com/ and you can look up the broker that way. We, as your LLB's, are here to help you get through the process, educate you and always be there for your questions. This also applies to lenders and even real estate agents, as we have seminars and trainings unique to each group. If you are a business, community center, or group of investors that would like FREE training on how to purchase these homes, please contact my office at 916.283.7427 or go to my website at www.SellingNorCal.com. I know that once you're understand the process you will see this as a golden opporutnity, as the benefits to the owning a HUD home are incredible! There's a First-Time Homebuyer Training coming to Sacramento April 28th, 2011, please contact me for location and times.