How do I puchase or bid on a hud home?

Asked by jamie123, Tillamook, OR Thu Sep 27, 2012

I own my home, which is paid off, would like to purchase a property for ritirement .Have some cash, but would probably have to borrow some against my house.

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3
Trevor Curran, Mortgage Broker Or Lender, Great Neck, NY
Thu Sep 27, 2012
Good evening Jamie123,

All bids on HUD owned properties must go through a HUD Approved real estate broker. You can find a list of local HUD brokers here: http://portal.hud.gov/hudportal/HUD?src=/program_offices/hou…

One thing: having financed quite a few HUD home purchases in my time as a mortgage professional, I advise strongly against buying a HUD home. There are plenty of good values to be had with regular MLS homes offered for sale by regular folks. And you won't deal with a repair/renovation nightmare.

Trevor Curran
NMLS #40140
0 votes
Marilyn Hank…, Agent, Tillamook, OR
Thu Sep 27, 2012
Hi Jamie,

Since this property is located in Tillamook County, it would be a good idea to hire a Tillamook County Realtor that is registered as a HUD buyers agent. There are 3 in our area and our office is one. Feel free to give us a call. We'll be happy to assist you! (503)842-5525
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Shanna Rogers, Agent, Murrieta, CA
Thu Sep 27, 2012
Hi Jamie123,

You would have to hire a Realtor who is registered with HUD to submit offers - and they would submit your offer.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
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