Things you should know or consider before buying a HUD home in Omaha.
- Owner occupant bids are accepted for 10 days
- Investor bids are opened daily there after.
- HUD homes are sold as is with no repairs.
- Buyers are encouraged to have a home inspection. Inspections should be done 15 days after the contract. You can request the utilities to be turned on, but they will only be on for 48 hours and the buyer must pay all the costs to turn on and off. It can take 15 days to get approval to turn on the untilities. If there are broken water pipes, they generally will not allow the water to be turned on to prevent water damage.
- HUD performs a home inspection on each home. Be sure to review them closely. They might also do a lead paint inspection. Review them carefully.
- If you are not willing to purchase the home as is, then buying a HUD home is not for you.
Steve Lauver, Omaha Realtor