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How To Buy A HUD Foreclosure
Pamela Madore
The Pamela Madore Group
Keller Williams Realty
806-340-7630

How To Buy A HUD Foreclosure

It is always tempting to want to buy a foreclosure.  Read this carefully before you decide so you know all the rules.  


THEY ARE NOT ALWAYS A GOOD DEAL

Contrary to popular belief, not all foreclosures are a good deal.  As a matter of fact, some are very bad deals.  You have to be very careful when deciding on whether or not to bid (make an offer).  On the other hand, some are very good deals.  It seems that HUD has no rhyme nor reason how they price the houses.  You can keep a constant eye on what is available at the HUD real estate site.  If you see one you like just call us and we will show it to you and put your bid in.

Here is a little trick I learned that worked out very well for one of my clients.  He made a low offer that was not accepted.  However, in the offer there is a place to check a box that says "hold for a back-up offer".  Well, I had checked that box and ... more

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