On Sept. 17 there were no new HUD listings in Indiana on a Friday for the first time in years. HUD is transitioning to new companies to assume responsibilities for the management and sales process for HUD Homes. HMBI will be phasing out in the coming weeks.
There are some very imortant things for home buyers to know about this transition:
- As of present, all available HUD Homes in Indiana have gone through the ten day owner occupant priority period, so any remaining homes can receive bids from either investor or owner-occupant buyers. (We expect that number of homes available to investors in Indiana to be close to 400 and decreasing each day as these homes are sold.)
- In the future, as new Asset Managers start the sales of HUD Homes, there will be longer owner-occupant priority periods for some homes and shorter for others: Homes eligible for FHA financing will be available to owner-occupants for 30 days. Homes not eligible for FHA financing will have a shortened owner-occupant priority period of only 5 days.
- Homes in the future will be listed any day of the week. In the past, new listings would only come out on Fridays.
- HUD has set up a new website that will have information about all HUD Homes available throughout the country. This website is hudhomestore.com
- There are additional changes to the sales process for HUD Homes. This time of transition will represent a learning curve for all involved in the sales of HUD Homes. We intend to stay on top of the situation to allow our clients the best information possible.
For information about Indianapolis HUD Homes or HUD Homes in the surrounding areas, be sure to contact me. You can reach me on my direct number 317-709-2537. We are registered with HUD to sell HUD Homes, but we are not affiliated with HUD or any government agency. Unlike some websites, we are not intersted in selling you a list or a subscription. We are interested in matching you up with a HUD Home, foreclosure or other home that meets your needs.
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