Buying HUD Homes?
Written By: admin on June 27, 2009
One Comment
With all the idiots out there who borrowed more than what they can afford, my husband and I are seeing some real advantages to buying our first home.
What I do have a question about is HUD. There are a handful of homes that are listed under HUD, newer homes, no work needed.
If you've bought a HUD home, what was your experience like?
Another stupid question that I know I'll get different answers to…One HUD is listed for k. I looked on the auditor's website and saw that it was bought by HUD for k. How low of an offer can I make without being laughed at?
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I bought a HUD home I still live in 8 years later. I bought it for $60,133. The bid for the home started at 57,000 I reckon and when they started the bidding, from what I heard they only got 3 other bids and mine was the highest. Our way of doing it was to bid an off amount, so that way if someone else bid 60,000 even we won. Our experience was wonderful. We had a fantastic agent that kept us abreast of all situations and watched the bids closely. The transaction went smooth. In my opinion a HUD is the way to go. I would buy another HUD if and when I go, if they are available. Like you stated some need minimal work and if you are handy you will be okay. Some people don't want to have to do any work they just want perfection from the beginning. We didn't mind the light work we had to do. Excellent Luck!