Recently we closed escrow on a property in Valparaiso, IN 46383 that was the result of a
The buyer was referred to us by peers from work.
We did not look at HUD homes initially as this was a 1st time Home Buyer and sometimes the condition and repairs needed for a HUD home can be overwhelming.
We warned our buyer that foreclosure real estate transactions are atypical.
There usually are more obstacles to overcome since many (not all) HUD Homes are:
- Sold As-Is
- Utilities and water are turned off and the buyer pays the cost to turn them on for a limited time frame for home inspections and appraisal.
- Home Inspections are usually for information only for the buyer to decide whether or not they want to continue with the transaction.
- Missing Utility Meters may delay the agreed upon inspection period.
- Contract time-lines are strict = Upcoming contract expiration reminder/Case#
There is a Hierarchy of Layers of Red Tape: i.e Asset Management Companies, Servicing Companies, etc..
In representing a Buyer of a HUD Home, the detailed and expedient transaction management after the bid gets accepted is key to a successful sale.
If you are looking for Full Time REALTORS to represent you in buying a HUD Home in Northwest Indiana, please give us a call @ 219-405-1232.
We Want to be your Buyer Agents! (click here to watch our You Tube Video).