Buy or Sell Homes in South East Valley of Arizona

Well, the summer is just about here and not to sound too cliché...but our housing market is getting hot especially with our HUD Properties. Here are 3 things buyer's need to   know about buying   HUD properties; 1.)     HUD uses a blind bidding system, and the original list price is the price HUD determined is the market value by an appraisal, so if you want to get a loan for this property, you can't offer more than that price, as the lender's will not give you any more money that that price.   Doesn't mean you can't offer more but just be prepared to come out of pocket with the amount over.   [i.e. list price $100,000, you offer $104,000 you will be coming to the closing table with your closing costs and $4,000 + your regular down payment of 3.5% for FHA (owner occupant) or 10-20% for conventional].   2.)     HUD gives owner occupants a 10 day time period at the beginning of each listing, so they are not having to bid ...