Great Buys with HUD Homes

The department of urban development (HUD) provides an excellent venue for both owner occupants and investors. In Aurora right now bunches of new HUD homes hit the market every week.

Although these homes have been foreclosed upon many of them are in good shape cosmetically. HUD does an inspection prior to placing them on the market. This inspection is to determine health and habitability. So if the furnace is bad or if there is a water leak HUD will escrow money at closing to address those repairs.

Pricing on HUD homes are incredible. Just last week a nice 3 bedroom, 2 bath home with a 2 car garage had a winning bid under $100,000.00! All this home needed was some interior paint and carpet. It had upgraded windows and kitchen cabinets. The location was near Mississippi and Tower. The new owners payment will be less than $700.00 a month!

The best part about HUD is their $100.00 program for owner occupants that submit a full price offer. You can actually get HUD to pay your closing costs, you just give a $100.00 for a down payment and you're done.

You must use a registered HUD agent to make a bid. HUD does require that you put up $1,000.00 for earnest money upon acceptance of your bid. When you sign the final documents to take ownership HUD cuts you a check back for $900.00. Your only other cost is about $350.00 for a professional inspector to examine the house for you. So for less than $500.00 you could own your own home with payments less than rent.

To take advantage of this great opportunity give me a call.