HUD owned homes in Indianapolis offer buyers an opportunity to buy a home at discounted prices. Buying a HUD home can be an excellent means of obtaining homeownership at a very reasonable price. Each HUD homes listing includes all available information, such as property details, valuation, investment score ratings, neighborhood statistics, plus key contacts to make an offer and complete the sale.
Once the initial offer to owner occupants expires, HUD homes become available to anyone, include investors looking to buy HUD homes and flip them, or buyers looking to rent the properties for extra income. At the beginning of the 6th day, an uninsured HUD home will be available for investors to bid on, even though HUD may be accepting an owner occupant bid later in the day.
You must use a Selling Broker who is licensed to sell HUD Homes to represent you. HUD is very clear that they consider investors savvy”, and if an investor cancels due to inspection items, the earnest money is forfeited to HUD. HUD homes are appraised and then priced at fair market value for their location.
We encourage you to contact The Funderburk Company with any questions you might have, or for further assistance with a HUD home purchase. If you are interested in receiving information about HUD listings in the Spokane area, please contact us here. The homes that HUD sells come into HUD’s possession as a result of defaults on FHA (HUD) insured mortgages.
HUD in turn sells the property at AS IS” market value based on a recent appraisal as quickly as possible through an Asset Manager (AM) Contractor such as PEMCO, LTD. As far as valuing the property, a hud home will be for sale in the investor period for either 5 or 15 days and that gives you plenty of time to value it.