News and Events

April 5, 2007

HUD Homes Can Make You Money

LOOKING TO INVEST, REHAB OR BUY A FIXER-UPPER? LOOK AT HUD HOMES!

HUD homes are homes which have come into the possession of the U.S. Department of Housing and Urban Development. These properties are sold via a bid process and can be sold by any Next Generation Realty agent!

The HUD properties can be seen at www.best-assets.com . A Next Generation Realty agent can show the property – homes listed are vacant and can be seen at almost any time. The key to buying a HUD home is to act fast. The initial bid period is for homebuyers only – no investors allowed! If you’re a homebuyer, it requires making a bid within the first 10 days of the initial bid period. If no acceptable bids are received within the initial bid period, then the property is made available to investors in the second bid period.

In order to purchase a HUD property, the homebuyer or investor must show proof of financing almost immediately upon an accepted offer. The best course of action is to get pre-approved by a mortgage company prior to making a bid. Call Betty Gustoff from Bankers Trust 515-314-0870 or Jody Shaffer-McCoy 515-229-2002 to get pre-approved for FHA, Conventional or Rehab Financing!

These homes can be in any condition, from complete rehabs to simply applying a coat of paint and moving in! Keep checking the HUD website – each Wednesday new inventory is added!

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