Im a first time buyer looking to purchase a HUD Forclusure, asking for assistance with information on how to excecute this endeavor from experienced persons & or available property information. Thanks Abasi
Find a good agent, most are registered to bid on ZHUD properties as they have to be. Your offer must be entered by an agent.
HUD deals seem to be listed (usually owner occupant, non profit and government agencies for some period of time depending on the "insurability" of it) on the MLS. They accept offers daily, review and if an offer meets their criteria (a net to HUD of some percentage of asking) the house is under contract. If no one makes an offer it stays on the market. I was told a realtor needs to be HUD certified and so does the attorney (in attorney states).