Buying HUD homes in Battle Creek, Michigan is the same for all over the State. There are certain key things to know about HUD homes in Battle Creek, Michigan especially however.
To begin, all HUD homes in Battle Creek, and all over Michigan, when they are offered for sale, are open to bidding by ‘Owner Occupants' for the first ten days, and HUD will not consider any bids from investors during that time.
When bidding in the Owner Occupant period, if successful, you must occupy the home for at least 12 months as your personal residence. There are stiff penalties for violating this rule, including imprisonment and heavy fines. So keep that in mind when bidding on HUD homes in Battle Creek, Michigan or anywhere.
The bids are entered my means of a website through a Realtor, and during the first 10 days bids can be entered at any time, but they are all reviewed on the 11th day and if you are rewarded as the successful bidder, your Realtor will be emailed a notification of such.
If you are looking at buying HUD homes in Battle Creek for investment properties, you must wait to bid after the owner occupant period expires, and if winning bid was not awarded to anyone, the property will be available to owner occupants and investors alike, and bidding will close out daily until it is sold. Once again, all bids must be placed through a Realtor.
An important thing to remember in buying HUD homes in Battle Creek, Michigan is that the city may have imposed certain requirements on the home, or removed the occupancy status if the home has been vacant for over 28 days, which most foreclosures are.
HUD will not allow for any repairs to the property without permission before purchase, and they will not make any repairs. An important thing to keep in mind, when looking at HUD homes in Battle Creek, Michigan.
Some loan programs like the FHA 203(k) prog
ram might be an option for an owner occupant bidder seeking to buy HUD homes in Battle Creek, as it allows for repairs to be rolled into the loan. It is good advice to have your Realtor check with the local code enforcement division of the city as to whether there are any issues concerning a HUD property you have interest in, especially if it is in the city of Battle Creek.
To view available HUD homes in Battle Creek or anywhere in Michigan, you can visit the current asset management company's website at: www.mcbreo.com. This firm called Michaelson, Connor, & Boul, Inc. (MCB).
However, there will be two new companies taking over the HUD properties in Michigan after the end of September 2010, so check with your local Realtor for changes in the process for seeing or buying HUD homes in Battle Creek, Michigan at that time.
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