Its worth the wait - 01/27/09 01:41 PM
I just sold my first HUD home. HUD stands for US Dept. of Housing and Urban development. http://www.hud.gov/homes/index.cfm  It was a long and tedious process but my buyer got a great home for a great price.
The home was a foreclosure and the appraiser had to go by Federal guidelines. So we had to put railing up,remove some mold, turn the heat on and water and replace the boarded up windows. We did this once the lender gave us a commitment letter and was confident he could close once the work was completed.
The buyer had to pay for the work … (5 comments)

Buying a foreclosure - 01/18/09 09:09 PM
When purchasing a foreclosure be sure to have a knowledgeable Realtor and loan officer working with you. If you are not paying cash and going with a FHA backed mortgage there are a few issues you will encounter.
First, the banks  have the homes winterized which means the water and heat is shut off and the pipes have anti-freeze so they don't freeze. The buyer is responsible to have the home dewinterized in order to have the systems inspected.If the buyer chooses not to go through with the purchase they are responsible to have it re-winterized costing anywhere from $300-$500.
Bank owned … (1 comments)

 

Chet Szafranski

Providence, RI

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Virtual Homes Real Estate

Address: 10 Newbury St , Boston, MA, 02116

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