Who doesn’t love a bargain? For the thrifty capitalist, investing in HUD Homes is a great investment opportunity. Furthermore, the possibility that HUD homes might become increasingly available in the coming years should pique renewed interest among investors.
One limitation, you should be aware of is owner-occupant purchasers are given priority for an initial period of time that the house is on the market. Priority is given for the first ten calendar days as follows: All owner-occupant offers received during the first ten days of this initial period are considered to be received simultaneously. On the first business day after this period, these bids are reviewed to determine the highest acceptable offer to HUD. If the property remains unsold after ten days, it is made available to investors as well, and bids are reviewed on a daily basis. (Investor bids may be placed at any time but are not reviewed until the 11th day, if the property is still listed.)
The good news for investor's is there are an abundance of HUD Homes available right now and I expect that number will increase before it declines. There are numerous HUD properties in the DFW area on any given day that are open to investors. Investor's are still required to use a HUD-registered agent to submit electronic bids and handle paper-work. I am a HUD-registered agent and enjoy working with investors. HUD pays the commision to the HUD-registered broker so using my services are FREE to you! I have seen HUD homes that have sat on the market for a while then be snagged up by investors for 15-40% under the appraised value. These are usually properities that need repairs. Please note the appraised value of the HUD home is the "AS IS" appraised value already. A seasoned investor will tell you that HUD homes do offer a potential for a great Return on Investment (ROI).
I also work with investors to market and list properties for sale in the MLS at an affordable flat fee listing rate. I can assist you in flipping your HUD home purchase as quickly as possible!
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