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How Much Time To Select A HUD Home?

A HUD Home This Year!

Hey! I Am Available Today!

How much time do you think you have to pick out a HUD Home once it is listed? And the answer is:

A. For homes that are Insurable/Insurable w/a Repair Escrow( no repairs needed or repairs are needed in order for the loan to be approved).
1. Once the home is listed, it stays in the “special category” of Lottery Round for 7 days,  if it was selected as a potential special sale by the HUD. And that is the Good Neighbor Next Door Program and other special buyer types.
2. Then it is listed for 30 days as Exclusive for only Owner/Occupant buyers. So only people that will live in the home may bid on it.
3.After that 30 day period anyone can make a purchase offer.

B. Homes that have to have major repairs before they can be lived in there is a 5 day time period for owner/occupants to make offers. Then anyone may make an offer to purchase the home.
These homes are eligible for the $100.00 down program if they are FHA financed by an owner/occupant and the house is in the state of Georgia. In all situations, a real estate agent of the buyers choice must handle the transaction.

 

Need a HUD Home? Just email: EARL@EARLPARK.NET or phone: 770-377-5793

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