Foreclosure Friday - this week there are 13 new listings including HUD homes

Foreclosure Friday. There are 16 new listings that are both bank owned and HUD owned. I had not realized that I was not including HUD, so am now starting to do that. HUD homes are a different process. You need to go see the house (as usual). Then there is an online offer that is made. For the first 15 days or so, only those going to occupy the home may bid. After that it is open to all, investors included. I have seen the bids go for more than the listed price. Also, a real estate agent can earn up to 5% in commission. The key being up to. HUD is ONLY interested in what their net number is. The ending of the bid is usually a Sunday night and the "winner" is posted online on Monday. Investors can participate. It is just a matter of knowing how to play the game. Usually these homes need more work.