AUDRA BEATTY
Real Estate Investment Systems

HUD Homes

HUD Homes are owned by the government after a foreclosure has taken place and the home was either foreclosed on or given back to the government.

Most HUD homes:

*  Are not in move-in ready condition
*  Need some repairs
*  Have an Inspection Report already completed
*  Qualify for FHA Financing
*  Qualify for the 203K Loan Program

HUD Homes have a cylce of who can purchase and when.  The cycle goes like this:

1st - 10th Day on the Market is open to Owner-Occupant ONLY
11th - 30th Day is open to Investors & Owner-Occupant
31st - 40th Day is again open to Owner-Occupant ONLY
41st - 60th Day is open to Investors & Owner-Occupant
61st - 70th Day is again open to Owner-Occupant ONLY
71st+ Day is open to Investors & Owner-Occupant

Each time the home is in one of the Red Sections above, the price is lowered.  You will need to check with me or watch this website to see when the next price drop will be.  Most properties can be purchased for less than the listed price, check with me to find out what the lowest bid would be accepted.

In my experience, if you can get into one of these homes with FHA financing and the 203K loan program, you can practically have a brand new home when finished!