HUD announced on February 8th some new incentives for "owner occupied" properties being purchased as single family homes in Michigan and Ohio.
These incentives have a time frame. Please note they end September 30, 2008
THESE INCENTIVEs ARE:
***Effective February 21, 2008, there is a change to the sales incentives allowance which is now $2,500 for all owner-occupant purchasers (excluding HUD approved non-profit organizations and units of local government) in Michigan and Ohio regardless of financing type. Please see below for details.
" Huge Sales Allowances! All owner occupant purchasers (excluding HUD approved non-profit organizations and units of local government) will receive $2,500 at closing to use on repairs, closing costs, or to lower their mortgage amount without regard to the type of financing used by the purchaser."
So if you are thinking of purchasing a property at a lower price and are willing to do a bit of work...which most will need something....this is your chance.
We can help you place your bid on the property. We can help you with key information so your bid is processed. We can offer a free list of inspeciton companies to evaluate your selection so you are bidding with your eyes wide open when it comes to property condition.
Ask for your "Free" list of active HUD listings in Michigan.
This is the time to act is while the selection is still good and the incentives are available to lower your costs even further!
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