Until 2009 or so, HUD foreclosures were a rare breed. During the boom times not many people were obtaining FHA loans, so the HUD property list was looking pretty thin except for a few mobile homes here and there. However lately the list has gotten longer and longer.
Because of the shortage of HUD homes over the last few years, many buyers for HUD homes have disappeared. This has left a big void and thus a big opportunity to pick up some fabulous deals on HUD owned homes. Our brokerage has been selling HUD homes since 1996. Not all Florida real estate brokers are HUD registered, so not all of them can sell these homes. The paperwork for the bid process is a little tricky, so many brokers do not want to fool with HUD houses. I am an expert on their paperwork and can help you bid on any HUD home in the State of Florida.
I promote and promote HUD homes but only a few people every month decide to take me up on them. Therefore I have bought about 5 of them this year for my own investments. Heck I will buy and flip them if nobody else will.
HUD gives you a full 45 days to close on their properties and you can often get another 15 day extension for another $200-300. They also provide a detailed inspection report with lots of pictures on their website for you to review prior to bidding. Highest bidder wins. HUD has minimum bid percentages that they do not make public, and I know how to calculate that number for any property you want to bid on. That is why it is best to deal with a seasoned professional when it comes to buying a HUD home.
The great news about HUD homes is that they are not part of the robo-signing scandal that has caused so many other REOs to be pulled from inventory or flawed with the title problems.
You can see their home list along with a detailed report of Florida HUD homes at their website. If you want to place a bid, please contact me. I can get you the deal you are looking for, and believe me the deals are EVERYWHERE right now.
Attention other Realtors. If you are not registered or don't know how to do HUD deals, I will place your HUD bid for you for just $1000 per deal - you keep the rest and they are paying 5% to buyer agents. Just call me for more details. I know how to get the bids accepted.