Just Sold 8773 Blantyre Blvd Stone Mountain GA HUD Owned Foreclosure - My first time buyer client just got a deal on this HUD owned foreclosure in Deer Creek Subdivision! It sold for $168,900 on November 23, 2009 which is over $67,000 less than it sold for in 2004!
This 4 bedroom, 3 full bath home has a 2 story family room with fireplace, huge unfinished daylight basement and a 2 car garage. It was built in 1999. The master bedroom is amazing. There's a 2 sided fireplace that is viewable from the sitting room in the master bedroom and from the really spacious master bath. There's some cosmetic changes my client wants to make but this house is completely livable.
The only repairs that needed to be done on this HUD home was to replace the missing air conditioning units. Financing of repairs can be done with a 203B repair escrow.
HUD owned foreclosures can be bought with $100 down, instead of the typically required minimum of 3.5% down payment for FHA insured loans.
There are a few things to remember when buying a HUD owned foreclosure:
- Utilities will not be on. Bring a flashlight for initial viewings.
- HUD will not pay to turn them on for your inspection.
- It's the buyers responsibility to pay to have utilities turned on.
- Paperwork must be submitted to HUD for requests to turn on utilities.
- Keys will not be given at closing. It's the buyer's responsibility to change the locks after closing.
Home Buyers can take advantage of the Home Buyer Tax Credit, now available until April 30, 2010.
View HUD homes for sale in Georgia. Contact Jen Bowman, Realtor & Broker Associate with Success Realty and registered HUD agent at 404-456-5024 to view and bid on homes in the metro Atlanta, GA area.
Read more of the Georgia Real Estate Voice for additional Home Buying Programs including down payment assistance.
Info on Dekalb County Down Payment Assistance
Info on Georgia Dream Down Payment Assistance
Info on the Neighborhood Stabilization Program (NSP)
Info on Buying a HUD owned Home with $100 down
Info on Making Home Buying Easier
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