HUD Homes Information
HUD HOMES INFORMATION
HUD Homes are homes that have already been forclosed. The goverment already has a clear title to the home. You put BIDS in on the homes. The BIDS must be entered on HUD's website, by a CERTIFIED HUD AGENT, which Birdsong Real Estate & Insurance is certified.
You must be able to obtain a new loan from a lender that is certified to do HUD homes, usually if a lender can do a FHA loan they will be able to do a HUD Reaquired Home. You must have EARNEST money. If your BID is less than $49,999. then you need a $500.00 cashier's check or money order. If your BID is $50,000 and over than you will need a $1,000 cashier's check or money order. The cashier's check or the money order MUST be made out like, "BUYER'S NAME (SMITH) OR HUD". This way if you do not get the home you can cash the check.
The agent will submit your BID and then when they are opened, and you are the successful bidder, your agent must have all the paperwork up to the HUD's office within a 48 hour timeframe. We do HUD home BIDS for the state of Arizona.
To put a BID offer in on any home:
***The parties name (of who is going to be on title)
***Address, City, State, Zip
***Social Security for all parties involved
***Owner Occupied? Investor?
ORIGINAL FORMS WITH ALL SIGNATURES. Give us a call so we can assist YOU.
