Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com
Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
Ann Arbor and Saline residents, want to buy a HUD home ?
Here are some things you need to know.
Note the sentence that says, "The process for buying a HUD home is different from a normal home purchase. Access to view HUD homes and place bids is restricted to a HUD approved real estate agent."
When purchasing a HUD home, there are misconceptions to replace with facts and advantages to consider. The following is information about the purchase of Arizona HUD homes.
First, exactly what is a HUD home? When a home is purchased with a FHA (Federal Housing Administration which is a sub-agency of HUD) insured loan and the borrower defaults on the loan, the lender may file a claim against the FHA insurance fund and convey ownership to HUD who then sells the home at market value to get back some of the loss from the foreclosure.
One misconception I have heard is that HUD homes are always in poor condition. I find that just like bank owned or short sales, HUD homes can be very clean and well taken care of or a disaster or anywhere in between. One of the advantages to a HUD home is that before HUD homes are listed, HUD orders an appraisal and property/pest inspection of the home. Anyone can go to the HUD website http://www.mcbreo.com/and read the report to see the condition of the property before viewing it.
If the property inspection determined that the property needs repairs but less than $5,000 and the buyer is using an FHA insured loan, for the home to be eligible for the FHA loan an escrow repair is established to cover the costs of the repairs to the home. The costs of the repairs are included in the loan amount and repaid by the borrower as part of the house payment.
It is advised that a potential buyer conduct their own home inspection by hiring a competent inspector. HUD homes are sold in "as-is "condition and HUD makes no warranties or quarantees about the condition of the home and will make no repairs. This is also the case in the purchase of a lender owned foreclosure property.
Another advantage for owner occupants (person that will live in the home as his or her primary residence within 30 days of the close of escrow) who are interested in purchasing a HUD home is that during the first 10 days a HUD property is listed to the general public, there is no competition from investors. Bids from Owner Occupant Purchasers only are accepted. All bids placed by Owner Occupants that are submitted during those ten days are opened on the 11th day and are considered as though they were received simultaneously. If there is no winning bid during those ten days the bidding is opened to include investors.
Another misconception is that HUD provides loans to persons who would not under other circumstances qualify for a loan. HUD does not provide financing for its properties. Before a person can place a bid on a HUD home they must be pre-approved for a real estate loan or have proof of sufficent cash to purchase.
A great advantage for those who do not have the downpayment required for a typical loan is that a buyer can purchase a HUD home for as little as $100 down. It is important to discuss the costs with an experienced lender and the price to bid with a HUD approved agent. Before a bid can be submitted, the buyer must have on deposit with the real estate broker an earnest deposit check. If the purchase price is $50,000 or less the required check amount is $500. If the purchase price is more than $50,000 the check amount is $1,000. Any unused portion will be reimbursed to the buyer at close of escrow.
The advantage of the sealed bid process is it eliminates many of the hassles associated with the typical lender owned or preforeclosure transaction where bidding wars and long waits are common. If during the first ten days of owner occupant bidding, no offer is accepted, bids are reviewed daily and the bidder with the winning bid is notified the following day. If more than one acceptable bid is placed, the bid with the highest net amount to HUD wins the sale.
If you have hesitated about considering purchasing a HUD home, realize that these properties open up another opportunity for purchasing a home at an afforadable price. With the assistance of an experienced HUD approved agent and a lender who understands the process, replace the misconceptions with facts and consider the advantages of purchasing a HUD home.
The process for buying a HUD home is different from a normal home purchase. Access to view HUD homes and place bids is restricted to a HUD approved real estate agent. For a partial list of AZ HUD homes http://www.eastvalleyphoenixhomes.com/hudhomes.html).
To get a list of all HUD homes that meet your criteria or to discuss if a HUD home purchase would be in your best interest, call Deanne Olivas, an approved HUD agent, at American Allstar Realty 480 452-5567.
Everybody is doing it. Using Facebook to promote their business.
Are you?
Yummy Menu...great breakfasts.
I actually won an award from posting this photo on Flickr from Schmap Detroit Guide. I don't really think of myself as a photographer, I just enjoy taking photos.
But, it was nice to get the recognition on one of my favorite restaurants in Ann Arbor.
One of the benefits of blogging on Activerain, is enjoying taking photos of my community.
Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com
Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that. We must learn to live together as brothers, or perish together as fools.
Martin Luther King, Jr. He who permits himself to tell a lie once, finds it much easier to do it a second and third time, till at length it becomes habitual; he tells lies without attending to it, and truths without the world's believing him.
Thomas Jefferson
"Always vote for principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost."
John Quincy Adams “Whether we believe in our capacity for self-government or whether we abandon the American Revolution and confess that a little intellectual elite in a far-distant capital can plan our lives for us... better than we can plan them ourselves.”
Ronald Reagan.
John Hancock: 1st Signer of the Declaration of Independence: "Resistance to tyranny becomes the Christian and social duty of each individual. ... Continue steadfast and, with a proper sense of your dependence on God, nobly defend those rights which heaven gave, and no man ought to take from us."
History of the United States of America, Vol. II, p. 229.
“In questions of power, let no more be heard of confidence in man, but bind him down from mischief by the chains of the Constitution.” -
Thomas Jefferson
“I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents.”
Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com
Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com
Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
Ann Arbor, Mich. Average commute time: 18.4 minutes .
Non-car commuters: 27.5 percent
Since it is one of the best-known college towns in America, it shouldn't be surprising that Ann Arbor is not car-heavy. Many of the city's major employers, such as the academic journal service JSTOR, the weather service Weather Underground, and the headquarters for Google's AdWords service are based downtown. That centralized location and Ann Arbor's compact nature make commuting easy for walkers, bikers, and bus riders.
Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com
Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com
Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
10 Reasons Why The Holiday Season Is A Great Time To Sell. Below is a list of reasons why now is the time to list.... Don't wait until spring.
*Sellers are dropping out of the market for holidays, less competition
*Buyers who are looking in the winter tend to be more serious buyers.
*Singles, couples, and empty nesters tend to wait while school is in session to buy, less competition for them.
*Interest rates are at an all time low
*Buyer scan buy more house right now.
*February and March produce the highest amount of homes sales, but November and December and January don't have as many homes for sale so there is a higher ration of homes sold to those for sale.
*The holiday spirit can help sell your home, you decorate for your guests, but buyers will find your home more charming while it is decorated for the season.
*Most homes are never cleaner and never smell better, or are better decorated than during the holiday season.
*If you don't want to move during the holidays you can negotiate possession for your own convenience.
*Sellers can usually negotiate their best deals during the holiday season.
Sellers who take their homes off the market or postpone selling them during the holidays won't save any money; they will simply postpone their own dreams and perhaps find more competition when they decide to enter the market again.
Are you ready to postpone your dreams or are you ready to move ahead and live your future now?
Kim Boekholder, Keller Williams, Moving to Utah? Moving Around Utah? Contact me for help
iUtah - Utah For Utah places to go and things to do. KSL's community Calendar.
p.s. "By the way, if a friend or family member you know could use a caring and competent agent, I would enjoy meeting them. Thanks for thinking of me with your referrals. I am certified in short sales, foreclsoures, buying, selling, investing, luxury homes, relocation.
Kim Boekholder Associate Broker,
Keller Williams Utah Realtors, Chair Ambassador Murray Chamber
Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com
Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
6140 First Street is an executive home located on the Huron River in Superior Township. Over 3.29 Ac in a secluded, private setting, with an electric gated entry.
Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com
Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
For sale in Ann Arbor, priced at $135.000. (not a short sale) 2916 Sharon in Ann Arbor.
Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com
I actually won an award from posting this photo on Flickr from 
Ann Arbor is ranked in the top 15 cities for commuters to live in.
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6140 First Street is an executive home located on the Huron River in Superior Township. Over 3.29 Ac in a secluded, private setting, with an electric gated entry.
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