The last few weeks I have been working the HUD Beat..That is I feel like I am getting beat up working all the calls that come in from all the people wanting to talk about HUDs..
Why is it that people put all thier faith in these signs that pop up around all my listings..."$100.00 down to buy this home."...stuff like that.. So every body calls to see if they can buy this home for $100. down....Its a HUD home, right???
MY SIGNS SAY HIGHEST CASH OFFER, MAKE A BID ON THIS HUD HOME
HUD homes are a great deal if you will repair the damage done by neglect, or from the prior homeowner that decided to strip the home of everything not bolted down. But, thats what it takes to claim the prize. Cut the grass, trim the overgrown bushes, and replace all the incidentals in the house... Change out the paint and carpet, add appliances, and you will still be in a home for well under current value.
But PLEASE..........understand that you still have to qualify for a loan. Even with a cash offer, there is no free lunch. You still have to pay for inspections, turn on utilities, get insurance, ect....its still a real estate transaction. There is no deal that will get you in for A HUNDRED BUCKS..
So, if you are one of those brokers who likes to play the bait and switch, the lie to get a buyer lead kind of Agent, then keep putting out those signs.... In my opinion, you are wasting everyones time....At least the car sales ads have to have an asterisk in their commercials.
$100.00 Down for HUD homes....I don't think so