Frances Flynn Thorsen, SRS, e-PRO

I think that you have some wonderful opportunities in Tucson ... the market offers some wonderful properties at affordable prices, interest rates are very low, and there is a wonderful crop of REALTORS in town. One of the most exciting developments in recent months is a special program through HUD ... You can buy a HUD home with FHA financing with a $100 down payment ... and HUD will contribute $1,000 toward your closing costs at settlement.

FHA down payment is 3.5% ... that is $3,500 on a $100,000 home. If you are buying a HUD home with a full price offer on an FHA insurable property, your down payment is only $100! Talk to an agent who knows about HUD homes ... there is more information at the link below.

Good luck!! Have fun buying a home in Tucson.


Relevant link:

Who Sells HUD Homes? Tips to Select a Real Estate Agent - Thu Jul 2 2009, 07:15

The Houston Assn. of REALTORS is the first REALTOR-based group to launch a rating system for consumers. It will not be tied to licensing, and participation is opt-in by REALTOR members. It is a smart idea ... there are several "ranking" web platforms that do not have a lot of traction ... designing a rating model within the industry is another innovative move by one of the most and innovative REALTOR associations in the country. Hats off to Bob Hale in Houston for cutting edge consumer outreach once again! - Sun Jun 14 2009, 11:57

Your question is not very detailed, so I will point you to several blog posts about HUD Homes on my Trulia Blog in the Foreclosure category:

http://www.trulia.com/blog/frances_flynn_thorsen_srs_e-proa/…

Specific articles include

"What Is A HUD Home?"
http://www.trulia.com/blog/frances_flynn_thorsen_srs_e-proa/…

"Who Can Buy a Hud Home"
http://www.trulia.com/blog/frances_flynn_thorsen_srs_e-proa/…

Additionally, there is a book, "HUD Homes for Sale - A Complete Buyer's Guide" link below., - Mon Mar 16 2009, 08:46

Any licensed real estate agent working with a HUD registered brokerage is eligible for your services, but scant few agents really know the in's and out's of HUD Homes sales.

There is a lot of competition in the market for HUD homes. Most HUD homes receive multiple bids; in many cases there are numerous bids for a single property.

Ask the real estate agent the following question: Do you show HUD properties to multiple buyers? If the answer is, "Yes" the matter merits some serious discussion.

If a real estate agent is working with multiple buyers for the same property, how does (s)he handle the following questions? It is reasonable to think that a buyer will WANT and EXPECT guidance to help a buyer achieve an advantage over other buyers in the market. It is an agent's job to provide counsel to provide a competitive edge to will help secure a property. Here are some key questions to ask your buyer agent:

How much is the property worth?

How much should I bid?

Do you already have other offers on this property?

Are you aware of any other offers on this property?

Have you written other offer(s) on this property?

Do you expect to be writing other offers on this property?

"Buying a HUD Home - Tips on Workiing with a Real Estate Agent," is the title of an article appearing at the link below. - Mon Mar 16 2009, 07:46

Rose,

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