I Am Registered To Made a HUD Bid On Foreclosures For You Good (Amarillo, TX)

I Am Registered To Made a HUD Bid On Foreclosures For You Good

Pamela Madore Keller Williams Realty 806-290-1920 I Am registered To Make A HUD Bid On A Foreclosure For You HUD has it set up so that only Registered HUD Bidder can make a bid for you. HUD houses are FHA foreclosures. They are not bank owned. They are owned by the department of Housing and Urban Development 3401 Nebraska St Amarillo TX 79109 The process is really quite simple. We find a house that we like and we bid on it. That isn t really the same as if you bid at an auction although your offer may be in competition with others so I suppose that is why they call it a bid . I submit your bid for you which is simply an online bid information I do for you. You can bid as high or as low as you want. You can ask HUD to pay up to 3% of your closing costs. They do not pay any of typical seller closing costs so you can expect higher closing costs than usual. HUD does an inspection sort of. They apply pressure to water and sewer see if the electric works how the roof looks and whether the dishwasher works (if there is one). Real inspections on HUD homes can be tricky. HUD turns all of the utilities off and winterizes all of their houses. If you want to do inspections you must first get written permission for HUD which is not always granted and then you have to pay for the utilities to be turned on and off and the re-winterization. You have 72 hours to do the inspections. HUD will fix nothing so this is for your information only. One of the main reasons I have seen that HUD won t allow an inspection is if pressure was applied to the water and it didn t hold. The field agent will note that and the most common notation is that the water leaks at the washing machine hook-up. They won t fix anything and we can t either ......so Are HUD foreclosures good deals They can be but the old saying let the buyer beware defines this situation perfectly. For more information on who can bid time frames property condition reports and any other questions you may have contact me. Call me. Text me. Email me. Pamela Madore [38 Years of Real Estate and Mortgage Experience] Keller Williams Realty 3955 S. Soncy Amarillo TX 79119 806-290-1920 pinkhouseteam.com