Buying from HUD
I recently came across a property that I am interested in buying. I looked up at the county records and lo and behold, it's a HUD home. This would be my first home purchase, so I really don't have much experience. Any words of advice or experiences (positive or negative) with buying from HUD? Is it better or worse buying from HUD than from a normal joe selling his home?
#4 All Forums Contributor
- Plymouth, MI
Make sure you work with a RE Agent that is qualified to make HUD offers. They go to a class on it. There's a lot of paperwork to fill out.
Joe V
I'm currently working with an RE agent, but it doesn't appear he is qualified for HUD offers. I checked http://www.hudhomestore.com/Listing/BrokerSearch.a... and there are actually very few HUD brokers listed there for my area. Are there other places where I can check an RE agent's credentials for HUD?
Just ask your agent if he is or not.
If he isn't, just go with the listing agent and stop trying to make things any harder than they have to be. Or I suppose you could call the listing agent to another HUD property nearby if you think there is a conflict of interest.
#4 All Forums Contributor
- Plymouth, MI
I would/have just look for a HUD listing, then call that agent.
Joe V