Home Buying in Philadelphia>Question Details

Desiree, Home Buyer in Philadelphia, PA

Properties own by hud. How do you bid for one of their properties.?

Asked by Desiree, Philadelphia, PA Wed Jan 12, 2011

Help the community by answering this question:

Answers

12
Hi Desiree,

Yu must find a HUD approved Realtor to submit your bid electronically. Before you consider any real estate purchase, you should find a REALTOR who you like and feel comfortable working with. You want to make sure that his/her brokerage is HUD approved so they can help you with HUD homes.

You can search for all available HUD homes at http://www.hooksvanholm.com. Once you find a house you're interested in, your Realtor can schedule a showing so you can go check it out. Your Realtor will also research comparable homes in the area to determine value and potential. Then you'll work together to come up with a bid on the house you choose to purchase. Bids are submitted electronically. Upon acceptance, all original paperwork and certified funds must be received by Hooks Van Holm within 24 hours.

Hope that helps answer your question. If you haven't chosen a Realtor yet, please call me. I'd be happy to interview for the job. No one will work harder for you. Good luck in your home search. Looking forward to speaking with you soon.

All the best,
Larry Lichtman
REALTOR, Property Manager
Your Real Estate Resource For Life
Cell (267) 254-7994
E-mail: LarrySellsRealEstate@gmail.com
2 votes Thank Flag Link Wed Jan 12, 2011
All these agents are correct (BTW, I know Brian and he is a great agent!)

Also note that financing may be different and you need to be preapproved.

I can do that for free. Call me at 215-852-4469.

Fred Glick
Managing Member
U S Loans Mortgage LLC
Web Reference: http://usloans.com
1 vote Thank Flag Link Wed Jan 12, 2011
As others have said Desiree, you need a HUD approved broker. The process is different from a regular sale. If you need any assistance I would be more than happy to walk you through the steps.
1 vote Thank Flag Link Wed Jan 12, 2011
0 votes Thank Flag Link Wed Jan 12, 2011
Desiree so far everyone here is giving you good advice. Go to a HUD website and find a home, then contact a HUD registered broker (agent) to show you the property (with a Buyer Broker in place of course) if the property suits your needs they can then help you place your bid online.
0 votes Thank Flag Link Wed Jan 12, 2011
Dear Desiree:

I am an approved agent for HUD homes. I have probably done as many HUD home deals as I have non-HUD. The HUD homes are now listed on a new website called HUDHOMESTORE.COM. Call that website up and when you see something that looks interesting to you, call me. I will be glad to show it to you. If after seeing it you might like to buy it, then I would put the bid through for you. You must have an approved HUD broker place the bid. What I like about doing HUDS is that you know in 24 hours whether you won the bid or not that is if it is open to all bidders. If it is only owner occupants then you have to wait a week for the results until the owner occupant bidding period is over. Please let me know if you would like to see any HUD homes. There are plenty on the list in the five surrounding counties. Thanks and Happy Hud Hunting!

Eileen Gray
Century 21 Alliance
215-603-8484
610-260-4049
0 votes Thank Flag Link Wed Jan 12, 2011
Check the HUD website for approved real estate agents in your area. They are the only ones that can submit a bid for the home and have the HUD key for access to the home. The link below should let you search for an agent in your area.
0 votes Thank Flag Link Wed Jan 12, 2011
First you have a realator put in a bid on your behalf . But know this owner ocupant's must wait two years to purchase another hud properties.
You need a good Real Estate Professional to help you not all are good at working with hud properties. All of us have different expertise.
0 votes Thank Flag Link Wed Jan 12, 2011
Good morning, Desiree. I am a registered HUD real estate broker in Philadelphia and I'd love to help you. Give me a call.

Carol McCann, Remax Millennium
435 Rhawn St.
Philadelphia, PA
267-970-3952
0 votes Thank Flag Link Wed Jan 12, 2011
Hi, Desiree, you need a HUD approved Broker in order to submit your offer. Call me at 267-979-6038, I can help. Thanks!
0 votes Thank Flag Link Wed Jan 12, 2011
Contact a local broker or agent and ask if they are registered to bid on HUD homes and have a HUD key to access the homes and have them assist you.
0 votes Thank Flag Link Wed Jan 12, 2011
HUD requires that you work with a real estate agent (preferably a realtor). When you have identified the property and you have decided the offer price and terms, the agent submits your offer on line.
0 votes Thank Flag Link Wed Jan 12, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer