Let's face it...foreclosures aren't as easy to come by in today's world as they were ten years ago. But, don't let that rain on your foreclosure parade. There is an easy way to locate current foreclosures and place bids on them without shelling out a bunch of cash.
HUD homes are foreclosed properties that were insured by the FHA. So, these homes are now owned by the Housing of Urban Development agency. What happens is when a HUD home is foreclosed on, these homes are listed on HUD's website, where HUD-approved agents can make bids for their clients.
HUD also offers special programs to firefighters, teachers, EMT's, police officers and government employees that alow them to make bids on HUD homes before they are open to the public. In this case, members of this elite group can purchase a home for 50% less than the public.
The limitations on HUD are that these properties are 1-4 unit residential and, during the exclusive listing, ONLY potential homeowners (who plan on living in the home for at least a year) can make a bid on the home. After the home has gone through the exclusive listing period, then the investors can come in and make a bid.
So, if you are interested in checking out your local HUD foreclosures,you can sign up here to receive a list of local HUD homes daily. That way, you can be informed of the listing before EVERYBODY else.
If you need to locate a local HUD real estate expert, click here. Only these agents can place a bid for a HUD home.
Emily Benner
Real Estate Expert
First United Realty
470.225.9097
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