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Showing posts with the label buying HUD homes

6 Questions to Ask Before Hiring a Real Estate Agent

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Buying or selling a home is an investment in your financial future. Making sure you have the right real estate agent to meet your needs will help your transaction run smoothly and get you the outcome you desire whether it’s selling your home at a certain price point or buying your dream home. Here are six great questions to ask before hiring a real estate agent:       1.   Are you a full-time agent? You might like Aunt Sally’s friend’s daughter but if she does real estate part-time, you might not get the level of customer service you desire and deserve. I recommend working with a full-time agent who can dedicate more time and effort to your transaction. (Yes, I am a full-time real estate agent. If I am not buying or selling homes, I am not making money)       2.   Are you a member of the National Association of Realtors? REALTORS® must abide by the NAR Code of Ethics and state regulations. They must also complete continuing education. (...

3 Great tips for buying HUD properties in 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 ...