Good Neighbor Next Door Program

You may have heard of something called the Good Neighbor Next Door Program or ‘GNND’ for short. It’s a HUD program that allows firefighters, emergency medical technicians (EMT), school teachers and policeman to place bids in a lottery style drawing on select houses.

The great thing is if you are the winning bidder, you purchase these homes at a 50% discount off of their list price. You have to plan on living in the house as an owner occupant, but after three years you can sell and literally pocket the equity. I don’t know why anyone that qualifies and has a few spare hours a week to look at the few available Good Neighbor Next Door listings in their area wouldn’t take advantage of the program. You have to work with a local HUD certified broker to place your bids and view the homes, and you have to be extremely persistent and plan on bidding for a while before you’re the lucky winner.

I am an experienced HUD-Certified Broker and can tell you about the ups and downs of purchasing a HUD foreclosure. HUD foreclosures can be a pain, they aren’t necessarily a good deal, they are sometimes run-down, they might smell, there isn’t any power on when you view them – I can go on and on. BUT, for those brave souls that would take the extra initiative and throw their hat in the ring until they get an accepted bid, this could be a great opportunity! How many times are you presented with the opportunity to buy a home for 50% off of list price? And this might be more like 60% off market value once you put a little elbow grease and improvements into your new home! I don’t know, but if I were a firefighter, emergency medical technicians (EMT), school teacher or police officer, I’d be out hunting for a GNND (Good Neighbor Next Door) HUD foreclosure!

To view GNND listings, visit http://www.zanegerringer.com/good-neighbor-next-door-homes.html