Why Buy a HUD Home?

Get Into a HUD for $1,000!

One of the biggest problems for home buyers looking to buy their first home or upgrade is their out of pocket expense. On a typical real estate transaction of $200,000 the buyers closing cost could be anywhere from $5,000 to $8,000 or more. This expense is paid for by the buyer. Now not a lot of buyers have this luxury of putting up this large amount of money. HUD has remedied this problem by allow us to have HUD pick up the closing costs bill of up to 3% of the purchase price. If you are working with a good lender this should cover your total closing costs expense. So in a lot cases if you have 100% financing you can be into a HUD home for $1,000.

“As-Is” Pricing by an FHA Appraiser

HUD has sent out a FHA appraiser to every single HUD Property that they list. They determine the fair market value and in many of cases are priced well below the fair market value. Copies of the appraisal are available to your lender once the home is under contract.

All HUD home have a full property condition report assessment done. The property condition report covers the structure, exterior, roof, plumbing, electrical, HVAC, interior, and appliance. Also a lot of other general useful information is available in this report, such as HOA information.

HUD wants to disclose everything from the get go so there are no unexpected bumps in the road to purchasing a HUD home.

HUD Bidding Process and Requirments

We have dedicated a whole page to the HUD bidding procedure: The HUD Bidding Process

Price Reduction, Until it Sells

Since appraising a property for market value is a difficult task even for FHA appraiser, HUD will reduce the price by about 10% every 45 days until it sells. So if the price is not acceptable to you, you have the opportunity to wait for a 10% price reduction.

This sounds great, but how much do your services cost?

Don‘t worry about paying us; our services are completely free to the buyer. Our services are paid entirely by HUD; it doesn‘t cost you a thing to work with the best!

HUD homes are probably some of the best deals you can find in the real estate market.

Getting Financed

One of the most challenging steps in this process is getting pre-qualified. This process allows you, the buyer, to understand what the purchase price will equal to in monthly payments. Also it gives you a chance to see how much that particular lender�s fees will be to close the transaction. I offer FREE pre-qualification from the best lenders in town who offer 100% financing to qualified buyers.

How Do I See All the HUD Homes Available?

You can receive a weekly brochure of all the new HUD homes for FREE. To receive your weekly HUD brochure, please email me at M.Monaco@TheMonacoGroup.com or call the office at (303) 523-5188.

Questions?

If you have any question about HUD homes or if you have real estate questions please do not hesitate to contact Marc at M.Monaco@TheMonacoGroup.com or call the office at (303) 523-5188.