Kellee Spillman-Malone, Broker, (951) 696-9090 | 28693 Old Town Front St., Suite 300, Temecula CA 92590

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HUD homes great for investors!

HUD homes great for investors!

January 31, 2014

Investors NOW only need to wait 15 days once a HUD property has been put on the market in order to bid on the property! This is GREAT NEWS for investors who have traditionally had to wait 30 days while the “first look period” or owner occupant period was taking place. In the past, investors have only been able to get quick access to bid when a HUD home is uninsured. We find HUD homes great for investors who need an opportunity to jump on a deal! 4Front Left

Investors wanting GREAT deals are now able to jump on them on the 16th market day. At that point the property will go on daily bid. Investors can bid “daily” each day until an offer gets accepted. In some cases, HUD will issue a counter offer sharing what their bottom line net is they are looking for. This is ONE VERY BIG reason that we find HUD homes great for investors!

IS A LOW BALL OFFER OK? Of course it is!! HUD is never insulted by a low ball offer! Unlike standard sellers or banks, HUD has a bottom line and so long as the offer meets their bottom line all is good! No emotion to deal with!
HUD homes are quite easy to sell because “AS IS” really does mean “AS IS” so what Investors see is what they get! There will be no guessing if the seller will do any work to the property like bring up to code, fix a roof, fix plumbing, repair a fence, replace a missing ceiling, replace a missing stove, address a possible mold issue, replace a missing garbage disposal, missing dishwasher, missing or broken toilet, broken or missing showerhead, damaged door, fireplace mantle, stove vent, faucets.. Did I cover everything? Probably not.. but no need to add more.. HUD will not fix anything.. NADA! AS IS, AS IS, AS IS!

All bidding is done on The investor will make a bid through their preferred Real Estate agent and know within 24 hours if their bid was accepted or countered. As always a deposit will be required based on the purchase price of the property. All Real Estate agents making an offer on a HUD home must work for a brokerage with a valid NAID number.

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