For the last 5 years or so, FHA mortgages became a rare breed. That made very few HUD-owned homes that showed up on the for sale list. HUD homes are the result of an FHA mortgage that gets foreclosed. Now pretty much every starter home sale involves an FHA mortgage, and I have noticed over the last 2 months or so that the inventory of HUD homes on their foreclosure list has continued to increase.
The great thing is that 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 for over 12 years now. Not all brokers are registered with HUD, 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 am seeing some fantastic hud house deals out there. Some priced well under $100,000. In fact, I just sold a HUD home listed for $92,000 for the low low price of just $65,000. We are talking a 3 bed / 2 bath home in reasonably decent condition here.
HUD gives you 45 days to close on their properties. They also provide a detailed inspection on their website for you to review prior to bidding. Highest bidder wins. HUD has a minimum bid percentage that they don't 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 veteran when it comes to HUD and other investment properties.
You can see a list and 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(R). 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. Just call me for more details. I know how to get the bids accepted.
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(Copyright © 2008. Sand Dollar Realty Group, Inc. All rights reserved.)
Rob Arnold - Your full service and investor friendly Realtor(R) in Orlando and Central Florida.
ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Licensed mortgage broker, Notary Public
407-389-7318 / 1-877-389-7318 www.SDRhouses.com/ We Buy Houses Florida
Learn to invest in Central Florida real estate and Orlando real estate. Investor mentoring and counseling available. We sell properties, list properties, and we buy houses cash throughout the Central Florida & metro Orlando area.
I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Volusia, Brevard, and more.
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