Home Buying in 27549>Question Details

Brittany, Home Buyer in Youngsville, NC

Interested in buying a HUD home...

Asked by Brittany, Youngsville, NC Wed Dec 12, 2012

I'm very interested in trying to buy a HUD home, but I have no idea where to start! & every time I call someone, they help me..but never tell me where to start with the whole process!

Help the community by answering this question:

Answers

3
Brittany:
You will need to get pre-approved and have a $1,000 money order to place a bid. http://www.HUDhomeStore.com is the best place to research homes. HUD lists their homes there. If the home has an escrow, there is work required to be done. There is currently a $100 down program for owner occupants who are buying HUD homes. If you want to limit the amount of money you bring to the closing, ask for 3% in closing costs and calculate your maximum offer as follows: as-is appraised value minus any required repairs minus the 1.75% up front mortgage insurance funding fee.

And find an experienced HUD registered broker to guide you through the process.
If you appreciate an answer, please give thumbs up. For the most helpful answer, please say thanks with a best answer click.
0 votes Thank Flag Link Thu Dec 13, 2012
I am a HUD Registered Agent and have been working with people to buy HUD homes for 18 years, I would be happy to answer any questions you may have and assist you with the process.
0 votes Thank Flag Link Thu Dec 13, 2012
I'd be happy to assist you with the process.

Call me when you have the time. Or apply securely online!

Whomever you choose, be sure your Realtor have the knowledge and experience to share with you as it will help you along the way.

Buying a HUD owned home can be a lot of fun and you can save some money too!
0 votes Thank Flag Link Wed Dec 12, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer