Andrew and Elena Ollick
Latest Post: Housing Has Finally Hit the Bottom
Typically financing requirements are no different. You go to your preferred lender, get prequalified, and then find the right home for you. My suggestion is you look at a variety of homes...HUD foreclosures, normal foreclosures, and straight sales.
The HUD homes are sold on an auction basis. That means you must bid with others for the home. The highest net bid to HUD wins the home on a specified date, although not just any highest bid wins. We often see the nicest homes sell very close to or above their list price. The asking price is the appraised value.
Hope that helps.
Financing sometimes can be easier depending on the property.
If it is HUD financing eligible, then there will not be an appraisal making things go faster and sometimes smoother.