Hi, we are looking to buy HUD homes in Phoenix. Were looking for referrals for qualified HUD certified agents.

Asked by We Buy Houses, Phoenix, AZ Wed Jan 4, 2012

We did some research and we realize that we need a HUD certified agent to place bids through the HUD system. Placing bids for HUD homes is a simple streamline process and not as involved as traditional offers. Were looking for a HUD certified agent that wont mind making multiple low-ball offer on multiple properties. Are they any HUD certified agents who are willing to do this in Phoenix? Does anyone have any referrals?

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Jonathan Dalton’s answer
Jonathan Dal…, Agent, Glendale, AZ
Wed Jan 4, 2012
Hi there ... HUD certified agents have not been required for more than a year; anyone can sell a HUD home at this point of time. The trick is finding them with the current dearth of inventory. As of the moment, there are 81 HUD homes for sale across the Valley.

Depending on how low you're talking, your strategy may be DOA. HUD home usually sell relatively close to the list price. Last year, 4,800 and change HUD homes sold according to the MLS. All but 52 sold for within 20 percent of list price and 138 sold for less than 90 percent of list. (1,451 went for more than 20 percent off original list ... evidence HUD negotiates through later price reductions rather than taking the hit on offers that are made.)

If you're serious about trying to make a go of it on HUD homes given the current inventory and HUD's history, we certainly can talk more. If you're thinking to go in at 60 or 70 cents on the dollar, there's not much point.
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