Has anyone purchased a HUD home?

[badmomma]

I just wanted to know if anyone has ever purchased a home through HUD. I would like to see my daughter purchase a home and have seen several of those in the paper. Any problems or concerns I should be aware of before I suggest them to her?

[JaredfromIndiana]

I bought one HUD last year and am in the process of buying another. I think some of the great things about HUD houses right now is that they are taking CHEAP prices for them! The house we are buying was listed at $72,000 and we got an accepted offer of $53,500. The house comps out around $90-95,000 and needs about $15,000 in repairs.

I would definitely have an inspection done on the house. Those HUDS sit for a long time vacant, which could lead to plumbing problems, etc. You will need a HUD certified agent to bid on the houses for you. I can't think of anything else to be concerned about at this point specifically with HUDs.

[badmomma]

Thats good news. I will look into it and hopefully we can get her into her first home. Thank you for giving me an answer.

[JaredfromIndiana]

If you need any other input you know where to find me!!

[flippinout]

I sounds like you got an excellent deal on that one Jared. But, another question Jared. Where would they go to find the listings of HUD homes available in their area?

[JaredfromIndiana]

Here is a nationwide HUD site. You find your state on the list and click on it, and then go from there.

http://www.hud.gov/homes/index.cfm

[badmomma]

Awesome, you just saved me a ton of time! Thanks again.

[flippinout]

Thank you Jared for posting the Nationwide HUD site.

[JaredfromIndiana]

No problem!!!!

[hometowngrl53]

No i have never purshed a home thru hud i am wondering tho if they are for sale are they as run down and in need of much rapair because the government dosent want to deal with them any longer