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Posted about 11 years ago

First home showing on HUD home

So, I got caught in the You Snooze, You Lose category for most of February.  I figured that in my area of Utah, that's the sweet spot.  It's cold, there's not much action, no one wants to buy when there is snow on the ground, etc.  In my last post, I detailed how I was wrong.  

The 5th house on my watch list was a HUD owned home and it hadn't cleared yet.  At least I had done something right, I had called the local realty office that is cleared for HUD transactions, and let them know I was interested.  They are only one of 3 in the local area that are cleared.  Today, I got a call from the realtor who said that his office got the listing, and that it was going to go on the market today.  I said -- great, I've got flexibility, when can we see it.  So, we're checking it out today.  It's still got to clear the exclusive period for Owner Occupants, as I'm an investor.  But having a jump is a good thing.

A few steps at a time.  We'll see where this lands me.

Ok, just back from the first showing.  It was a lot of fun - mainly because I know what I'm doing.  The house is not your typical for the area, it's almost a cabin type of home in a neighborhood where the past 25 years have seen upscale homes built.  Of course, being a HUD foreclosure, there were lots of things wrong with it.  Missing oven/stove, lots of missing light fixtures, all smoke detectors are gone, random cut-outs in the walls.  Most everything is fixable, but it's not show ready as you'd typically see in this area.  I'm hoping that works to my advantage.  

Still not 100% sure that this would be my ideal first deal.  Will have to see what happens after the Exclusive period for Owner/Occupant is over.  Of course the realtor is very optimistic, but I've never met a realtor that wasn't!


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