If you are looking to buy a home soon, consider a HUD home. The HUD purchase process has been simplified greatly and offers several benefits for potential buyers.
Benefits of Buying a HUD Home
- 100% FHA Financing with Only $100 Down Payment
- HUD to Pay up to 3% of the Sales Price towards Buyers Closing Costs
- $1000 Buyer Bonus on New Listing Under Contract in the First 30 Days
- Free Home Condition Report
- Free Termite Letter
Here are some common questions about HUD homes in the Atlanta area.
How do I Buy a HUD Home?
Start by finding a registered HUD real estate agent. A HUD registered agent must submit your bid for you. Normally, HUD homes are sold within an intial "Offer Period." At the end of the offer period, all offers are opened and the most acceptable bid is chosen. If the home isn't sold in the initial offer period, you can submit bids until the home is sold. Bids can be submitted any day of the week, including weekends and holidays. They will be opened the next business day. If your bid is accepted by HUD, your agent will be notified -- usually within 48 hours.
If my bid is accepted, what happens next?
Once your bid is accepted, your agent will guide you through the paperwork process. You'll be given a closing date -- normally within 45-60 days -- by which you need to arrange financing and close the sale or forfeit your earnest money deposit, or, you can pay for an extension of your sales contract.
Where can I find HUD Homes that are For Sale?
You can visit our HUD search page on our website at www.mikellhometeam.com. If you see one that interests you, contact us and we will arange a time to show it to you and help you with a bid when you're ready
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