Keeping it Real (Estate) with Deanna- Don't be Scared of HUD Homes

Buyers are always looking for a deal, and HUD homes, like other foreclosure properties, can be a good deal.

What sets HUD homes apart from others is that they are family dwellings where the property was initially mortgaged by a private lender and insured by FHA. The mortgagor files an insurance claim with FHA and conveys the property to the secretary of HUD for disposition. Neither FHA nor HUD forecloses the property. It is instead obtained through a claim for loans insured by FHA.

Once the property has been obtained it is marketed at the HUD store. At this time, Realtors are able to show the property to clients, and clients can then place bids on the properties. Though it can seem kind of daunting to be placing an online bid on a house, it really doesn't need to be. HUD agents are working hard to get the properties sold in a timely manner. Most bids have responses within 72 hours. I have heard of successful bids in under 24 hours.

Want to know more, give me a call, I'll be glad to help.

Deanna Howard, Realtor, SFR, CREN
Iowa Realty
752
10th Street
Marion, Iowa
52302
(319)
929-3836

dhoward@iowarealty.com

 www.deannahoward.com

Licensed in the State of
Iowa