How Could You Find New Hud Homes Listed For Sale?

How could you Find New HUD Homes Listed for Sale

?

Earlier this fall the Department of Housing and Urban Development (HUD) selected new asset managers to market their inventory of bank-owned HUD properties. They took at the beginning of October, and there has been a relatively good confusion regarding how to find new HUD homes listed available.

Before the new HUD asset managers took over, there is one website to visit, enabling you to easily search for HUD homes from coast to coast. HUD homes was previously for auction on Fridays. All new listings were open to owner occupants only for 10 days. If no acceptable offer was received by day 10, everyone was permitted to invest in HUD homes.

Now, the search is becoming more complicated. First of all, tow or three asset management firms are responsible for marketing HUD homes in every state. HUD homes are actually for auction on a daily basis and exclusively open to owner occupants for a full Thirty days. Only uninsured homes can be purchased by investors 5 days after they are listed.

HUD created a new web site to show all their listings - HUDHomeStore.com . It offers a completely new interface which can be simpler, but it certainly is not as powerful since the old website.

About the main page from the HUDHomeStore you may either click on a roadmap or choose a state from the pull down menu on the left from the Search Properties box. You should also enter a county and select which status you are looking for, e.g. new listings. After you click search you receive a list of HUD homes with pictures and addresses.

Click the image or case number to show details on a specific house. For most properties you can find more pictures, an appraisal and property condition report (sometimes), HUD required addenda and the LPD (lead paint disclosure.)

A different way to find HUD homes for sale is in your local MLS. All HUD homes have to be listed on the MLS per HUD guidelines. However, you might encounter some issues with the MLS listings:

1.A house might not be clearly called a HUD home. A minimum of not in the description open to everyone. Your realtor can search for agent remarks (which are not visible towards the public) and find HUD homes this way.

2.In the past, the HUD listings on the MLS weren't up-to-date. Although HUD mandates that listing brokers change the listing status of HUD properties within Twenty four hours, this might not occur, and also you wont make the most current information.

Whats your best bet for finding HUD homes?

The best way would be to make use of a real estate agent who is an expert on HUD properties and properly completed numerous HUD purchases. Your agent should follow HUD listings every day, and help you stay current as new HUD homes are listed. Most agents can setup a custom look for you and email you whenever a new HUD hits the market.

Author Susanne Novak is a long-time Colmbus real estate agent specializing in helping home owners buy properties at discounted prices. Read her blog to find and successfully purchase HUD Homes.

by: parklandgroup

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