Successfully Selling HUD & REO Homes

LIVE Real Estate Workshop!

Here are the details:

TIME: 2:30PM - 3:30PM (PT)

DATE: Tuesday , November 5, 2024

LOCATION: ZOOM - https://us02web.zoom.us/j/81106407898

RSVP TODAY!!!

What is a HUD Home?

Definition: a one-to-four unit single- family residence acquired as a result of a foreclosure on an FHA-insured mortgage

Offered for sale at fair market value, based on a recent appraisal

Vary in price, location, and condition

HUD Homes for sale throughout the state

Some are move-in ready, others are not …Sold As Is…

Benefits of Buying HUD Homes

HUD will pay up to 3% of buyers closing cost (must be negotiated in contract) – Owner Occupants Only

If Condo or townhome, project approval is not required (only on HUD Homes) Per Mortgagee Letter ML 2016-13 which extended ML 2012-18 that replaced ML 11-22

ML 11-22 and the Condominium Project Approval and Processing Guide updated, clarified, consolidated and replaced ML 2009-46 B which stated HUD REO condos are exempt from project approval.

IE finance types have the option of doing an FHA standard loan with escrow repair.

Owner Occupant priority bidding period

Low EMD ($500, $1,000 or $2,000)

Join us for the NEXT Real Estate Market…

Host or Publisher Jeff Russell - Russell Realty Group