It has been a while sense I have sold a HUD home, and now they are just as much a part of our market as any other listing............they are not just the "cheep run down" homes anymore.

My 1st time home buyers and I went shopping for a home............so many to see, so much inventory!  When we stumbled on this 4 bedroom 2 bath home in a very nice residential section of Kentwood.

What a great house!  listed at $109,000, HUD appraisal 120,000 sold a few years back for $145,000, and I could comp it out easy for for $135,000, We purchased the home for $97,000 plus ALL closing cost and pre-paids paid for by seller (HUD).

We also used HUD's FHA $100.00 down payment FHA program.  Now you still need the earnest of $1,000 on this home, and I was warned that HUD has restrictions of what Closing Cost and Pre-paids they will pay.  So I warned my client, that they may not get that $1,000 back..............consider it an investment in your home purchase.

Well we placed an offer.............there were mulitble offers and they came back saying none of the offers quit reached their bottom line and giving everyone a chance to re-bid the home............so we did and WON!

Now the work really begins..............there is much follow up and attention to detail.  Every "i" needs to be dotted and every "t" needs to be crossed. Follow up - Follow up.

This home was a little easier as it was a newer home and there were no lead base paint issues or any repairs needed per an FHA loan..............a very good home to start with.

Now I will skip to the closing....................we had a final HUD sent to the seller (HUD) as they review and make any corrections needed.  The HUD that was approved by the lender showed my client coming in with $800.00.  By the time HUD was finished..........my clients were getting a check BACK for $900.00!

We were soooooooooo happy!  They really did buy a home for $100.00 out of pocket.

I am now on my 2nd one................more difficult, as it is an older home with some "issues" but I now know the direction I need to go, and who to talk to, and also feel good about HUD doing what is right for the buyer!  They are very over worked, so I still make sure I do not fall through the cracks.........

However buying a HUD home may be the best deal out there right now if you are buying the home as owner occupied and using a FHA loan.