Extended vs Exclusive Listing Periods-HUD
Listing Periods for HUD properties:
There is what is call the "Exclusive"Â Listing period where the only folks able to bid on a HUD property are Owner occupants,Â government agencies, and nonprofits only... after that point the property goes into the "Extended" Listing Period. The bidding will open up to all bidders at that point (extended period). So please consider this... if you are looking to purchase a HUD property, and a person wants to live there as a primary (vacation home purchasers bid during the extended period)Â residence... PLEASE have your financing ready.. or pending (speak with a lender)Â PRIOR to going shopping. I mean,...even if you fell in love with a non-HUD property... this should be the case. If you need help, this is where a good Real Estate agent will come in handy, and really go to bat for you. So What ever you chose, be prepared... Nothing is worse than NOT being ready for the PERFECT property (investment or otherwise)! Call if you need me... I will do my best to help you find your way home. Where-ever you are.
All the best,