I agree with much that has been said here. With a HUD home, it is listed for owner occupants for the first ten days so that gives you a little time to schedule showings with your Broker. Bidding is done via the internet and the Broker has to be registered with HUD to place a bid. I would agree with interviewing several agents to see who you feel best understands and represents your needs. In addition, I would suggest that you choose an agent with several Real Estate Designations. Some designations are: Accredited Buyer Representative (ABR), Graduate Real Estate Institute (GRI), and Certified Residential Specialist (CRS) among others. These designations are earned by real estate professionals by attending intensive training classes and passing requisite exams. More than earning a designation it indicates that the person has incentive to improve their knowledge base and skills so that they can represent their clients more effectively.
Of course, there is some work for you to do before you can place a bid. You must have already established a relationship with a bank or a mortgage broker and have been preapproved for a loan. No seller, whether it is HUD or any other seller will accept an offer without a preapproval letter.
Once your bid is accepted, you will have to provide your agent with certified funds (cashier's check or money order) for the required earnest money deposit. There are numerous forms to be completed and overnighted to the HUD contractor. Your agent must be vigilent as any issues that may arise with the HUD contractor must be resolved immediately or your bid may be cancelled. Inspections, etc must be done within contract timelines and these are strictly upheld.
Purchasing a HUD property is not difficult when you are represented by a Real Estate Professional with experience in the process.
If you have any questions, please let me know....
Brenda McMillan, Broker, e-Pro, ABR, GRI