The final part of buying a HUD is what to do after you have
been chosen and your bid won the process.
Usually HUD has at least a 45 day close period so you can get everything
done that needs to be done.
The work begins with getting the inspection completed. HUD just as any other bank owned or short
sale will not pay for any fixes. The
inspection is for your information only to determine if you want to go through
with the sale. It is up to the buyer go
get all of the utilities turned on in order to get the complete picture. The buyer pays for everything including the turning
on and turning off.
Once the inspection is done, and you are going to continue
with the sale, you must follow all the regular processes for a real estate
sale. Make sure you keep up with any
questions that the BLB asks of your clients.
Buying a HUD is not hard, but it is a lot of work. Knowing what your bid price should be is
something that you and your Realtor need to determine if there is any bid up amount.
No comments:
Post a Comment