HUD HOMES & VA Homes Homes for Sale and Loan Information
If you're buying a HUD or VA Home, you're required to use a real estate professional. While purchasing a HUD or VA Home may be easier than many private real estate transactions, there are still some requirements which must be met--certain forms that must be used, and procedures that must be followed. But these requirements are clearly stated in advance. I will be there to help you through it all.
There are no negotiations between buyer and seller when you buy a HUD or VA Home. There's no haggling about price. Buyers submit a bid through the real estate professional, all bids are reviewed on the same day or pre determine 5 day period of time with the home going to the highest bidder. HUD or the VA responds promptly to your offer, and if it's accepted, closing on the home will usually occur within 30 to 45 days.
Making an offer to buy a HUD Home is often much easier than the process of buying a home on the private market. You'll submit your offer through a real estate broker, via the Internet using information from the HUD contract form. The person making the highest acceptable bid is generally awarded that HUD home that day. Before submitting a bid all potential buyers must be pre approved.
Sometimes HUD or the VA accepts an offer that's less than the listing price, depending on market conditions and the length of time the property has been on the market. Sometimes buyers make bids higher than the listing price, if they believe the market conditions demand it, or if the home is particularly appealing.
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Section 203(k) insurance enables homebuyers and homeowners to finance both the purchase (or refinancing) of a house and the cost of its rehabilitation through a single mortgage—or to finance the rehabilitation of their existing home.
You must use a real estate agent to submit a bid
for Both VA and HUD Homes
HUD currently accepts bids through the
Internet from agents
Let me know if I can help you purchase a HUD or VA Home!
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