What to Expect From a HUD Home
When buying a HUD home, remember, they are sold AS-IS.
They are usually empty and cleaned out, but often have repairs that are needed
that range from minor to major.
Usually, HUD homes have inspection reports that detail the damage to the home.
Call me and I can email the report for a specific house to you.
I believe that if you are looking for a home to live in, versus as an
investment, HUD homes represent some of the best values available.
From the HUD website:
HUD Homes are
sold in their as-is condition without warranty. Because of HUD's as-is policy,
HUD Homes can often be a great opportunity for the fixer-upper. Not every HUD
Home needs fixing up, but when one does, it can be a real bargain. For example,
HUD's asking price on the home will reflect the fact that the buyer will have to
invest money to make improvements. Also, keep in mind that on most sales the
buyer can request HUD to pay all or a portion of certain financing and closing
costs.
HUD does not
warrant the condition of its properties and will not pay for the correction of
defects or repairs. Since the new owner will be responsible for making needed
repairs, HUD strongly urges every potential homebuyer to get a professional
inspection prior to submitting an offer to purchase.
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