Where can I find available HUD homes?

· Find my HUD home listings advertised here as they come available.

· BLB Resources updates its regional HUD Photo Pages twice weekly. Find its list of Sacramento-area properties here.

· All HUD homes nationwide are listed on www.hudhomestore.com

HUD Homestore

 

What are some Reasons to Purchase a HUD Home?

· HUD will pay up to 3% of buyers closing cost (must be negotiated in contract)

· If condo or townhome, project approval is not needed — meaning that there is no percentage that has to be owned by owner occupants (Mortgagee Letter 2009-46B, only on HUD Homes)

· FHA appraisal is already completed, so FHA buyers will not need to pay for a new appraisal saving an average of $400. (Appraisal is good for up to 4 months)

· IE finance types have option of doing an FHA standard loan with escrow repair…repairs are done after close of escrow

· Good Neighbor Next Door (GNND) program available in certain areas for eligible buyers

· Sealed bids

· Quick response to bids (within 24 hours after initial bidding period)

· FHA 203K loan option

What are some useful links for other HUD home information?

· A list of experienced HUD lenders

· FHA Approved Condo Complexes

· Most Common Selling Agent Questions

What forms will I need when purchasing a HUD home?

· Owner Occupant Sales Package

· Investor Sales Package

· Appraisal Report Request

· Cancellation Request

· Closing Date Extension Request

· Request to Add Purchaser

· Request to Remove Purchaser

· Termite Report Request

· General Addendum

· CA or WA Carbon Monoxide Detector Addendum

Visit BLB Resources for more HUD forms and other information about purchasing HUD homes.

And…

Keep an eye on warrenadams.com for up-to-date HUD home listings in the Sacramento region

DRE# 00683223