newnan hud homes for sale: Why do I need a real estate agent to bid on a HUD home? - 02/04/11 04:21 PM
It is easy to find a HUD home for sale on the Internet. HUDHomeStore.com has all of the HUD listings in most areas of the country.
But in order to bid on a HUD home, the bidder must be a real estate agent working for a broker that is registered and approved by HUD. These brokers have a NAID (name and address identifier) which is required for submitting an online offer.
The reason for this is that the real estate agent is qualified to answer specific questions about the process, and can assist you with seeing the property, entering the bid, … (10 comments)
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newnan hud homes for sale: For qualified buyers it is still possible to buy a Coweta County HUD home for sale for only $100 down. - 05/30/10 10:07 PM
One of the advantages of purchasing a Coweta County HUD home for sale is that many buyers qualify for a down payment as low as $100.
You must be buying as an owner-occupant, and you must be able to qualify for an FHA loan for the amount of the bid, plus any rolled in expensed such as the 2.25% up-front mortgage premium.
The one caveat that buyers need to be aware of is that a $500 earnest money deposit is required for bids up to $50,000 and $1,000 for houses over $50,000. This deposit will be applied as a credit towards … (4 comments)
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newnan hud homes for sale: Bidding on Newnan HUD homes is still robust. $100 Down Coweta HUD homes! - 05/15/10 07:18 PM
Bidding on HUD homes for sale in Newnan Georgia is still competitive, even after the expiration of federal tax credits. There are several reasons why a HUD home should be considered by a prospective home purchaser.
First and foremost HUD homes are correctly priced based on a recent appraisal and inspection performed on the property.
Second, the bidding process is both fair and unambiguous. All owner-occupants have the same change of acquiring the property based on their bid!
Third, homes that qualify for an insured loan can be purchased with as little as $100 down by owner-occupants. In most cases, these … (4 comments)
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newnan hud homes for sale: A lost opportunity for a solid buyer because someone else may not have had it all together BEFORE they made an offer to purchase. - 09/18/09 07:05 AM
We lost a HUD bid a few months ago. And not by a little bit either, as the winning bid was about $10,000 higher than ours on a $100,000 house.
We were in second place, and indicated that we would accept a backup position. As time passed, our clients purchased another property and we have already closed and they are satisfied with their purchase.
Today I was notified that the house is back on the market.
I can't help but wonder why it took three months for the original HUD purchase and sale to fall apart. In most cases with a … (21 comments)
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newnan hud homes for sale: It's time to go back to work. I wonder what that means to a real estate agent. - 09/08/09 06:57 AM
The long holiday weekend is over, and for most it's back to work. But if you're a real estate agent, the fact of the matter is that the work never stops.
Over the weekend I worked on three offers, and with my partner, began showing for two new clients. In addition we continued to work with those buyers that have already been looking but just haven't found the right place yet.
I have always heard that one of the best things about being a real estate agent is that you get to set your own hours. In my experience, that translates … (20 comments)
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newnan hud homes for sale: Can it be possible? Do we have more buyers than properties? Problems for first-time home buyers in Newnan Georgia, - 08/27/09 07:01 AM
It seems lately that we have a dearth of sellable properties in the Newnan Georgia area. It's not that there are not a lot of houses on the market, as there are plenty! However, there are not enough of the types of homes that buyers are seeking.
Here in Newnan Georgia, that's a decent, move-in ready house for under $100,000. We have qualified buyers, ready to go, but the selection is diminishing daily.
Add to that the fact that most of the best properties that are moving are selling over and above list price. The net result is that many buyers … (21 comments)
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newnan hud homes for sale: A complete step-by step guide for purchasing HUD Homes in Georgia. Part Seven of Seven: Closing on a HUD home. - 08/26/09 05:25 PM
In Part Six of this series Taking the HUD contract through to closing. we learned about what happens between the time a HUD contract is executed and the time of settlement.
In this chapter, we will discuss the closing or settlement process.
Once the title work has been completed and the buyer's loan is approved, it's time to close on the property. All HUD properties are assigned to a law firm or title agent that is responsible for closing the government owned property.
Buyers need to be aware that the attorney or agent is representing HUD and not the purchaser. If … (3 comments)
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newnan hud homes for sale: Are we living in the land of the self-fulfilling prophecy? Why incentives may be sending the wrong message. - 08/26/09 06:34 AM
Perception is everything! We often hear the words "consumer confidence" bandied about, but what does that really mean? Is there some impetus that could change the way a buyer thinks?
Because if the economic ship can be righted by just implementing the simple act of inspiring confidence, the powers that be may be taking the wrong approach.
The endless stream of bailouts and buyouts and incentives actually sends the message that times are so desperate and consumers should only consider a purchase that involves some sort of governmental rebate.
Conversely, what would happen if the following concept was conveyed to the good … (20 comments)
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newnan hud homes for sale: The rationalization of the creative process. Is giving in to commercial concerns selling out? - 08/24/09 07:19 AM
The debate about the reasons that one creates is as passionate as the reasons that one chooses a spouse. Everyone expects to get something different in return for their efforts!
But in a world of instant information dissemination, the balance between art and function is usually tipped one way or the other. And it's up to the creator of the work to decide the manner in which their craft will evolve.
But true creativity is NOT the rehashing of readily available facts and figures. While academic treatises usually contain useful summaries of empirical data, they are rarely considered art and are … (18 comments)
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newnan hud homes for sale: Building blogging steam takes time ...but once you get rolling you're on your way to success! - 08/23/09 07:23 AM
Blogging for business is not a shortcut to success. Rather, it can be an effective tool for those seeking to maximize their Internet exposure and that are willing to continually fuel the fires of the blogging engine.
And don't expect to leave the station at full speed. The blogging train starts slowly, and gradually builds up momentum as lumbers along. It takes a long time to get up to speed.
And most importantly, the blogging firebox must constantly be replenished with fresh fuel or the engine will eventually wind down to a grinding halt.
It's all a matter of putting everything … (29 comments)
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newnan hud homes for sale: Where does all of the stuff that we used to know go when we're finished using it? - 08/17/09 06:45 AM
Over the weekend, I started a little project at home. Over the years, our bonus room has become more of a warehouse than a usable room, and I have made it my mission to convert it back to usable space.
So I began sorting through the piles of unfinished art, old papers and books when I came across all of my high school and college textbooks. I began looking through the math and science books, and I thought to myself:
"Wow, did I ever really know all of this stuff?" There were a lot of complex formulas and scientific and mathematical … (19 comments)
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newnan hud homes for sale: A complete step-by step guide for purchasing HUD Homes in Georgia. Part One of Seven: What is a HUD Home? - 08/14/09 05:11 PM
In these days of foreclosures, REO and short sales, we often gear the expression "HUD Homes." And while most buyers know that these homes are foreclosed properties, most do not understand the difference between a HUD home and other distressed properties.
Very simply put, a HUD home is a one to four unit foreclosed home that had an FHA guaranteed loan in place. When the borrower defaulted, the lender took possession of the property which was then turned over to the Department of Housing and Urban Development in exchange for a cash reimbursement.
This means that the government of the United … (13 comments)
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newnan hud homes for sale: The secret to growing a business may be as simple as giving up some control and delegating responsibilities! - 08/14/09 06:56 AM
I did something this week that I have never done before. It was hard for me to do, but I decided to throw caution to the wind and take the plunge and just do it.
I actually hired a service to mow my lawn. A neighbor left a flyer at the house and I gave him a call. He's a local fireman that has decided to venture out on his days off and start his own little enterprise.
It was extremely hard for me to give up control of my own landscaping. I worried about it all day. But it sure … (43 comments)
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newnan hud homes for sale: I got a call from Afghanistan yesterday, and I think I have an idea that's a win-win for America! Let's give returning veterans something more than a handshake. - 08/13/09 06:42 AM
I got a call yesterday from a national guardsman currently deployed in Afghanistan. He was calling about one of my listings, and asked for more information.
First of all, I thanked him for his service. Second of all we talked about the purchase of his first home. I excitedly began to tell him about the $8000 first time homeowners tax credit.
Oops, there's only one problem. He won't be on leave until it's too late to qualify for the credit. Now here's a fellow laying his life on the line for his country and he will miss out on the tax … (32 comments)
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