There are approximately 100 homes owned by the US Dept of Housing and Urban Development currently available in the Central GA area. With prices ranging from $7,000 to over $300,000, there are homes available to meet all budgets and needs
Many of these properties are purchased with cash by investors from all over the United States. Most are looking for rental units or homes to flip.
However, there are many great homes available for people looking to be owner-occupants. HUD actually gives preference to owner-occupants and often has restricted periods when a property is first listed, excluding investors from submitting bids.
As typical with many foreclosures, most of these homes will sell below market value and many require extensive repairs. HUD will usually provide inspection reports, free of charge to perspective buyers, but having a home inspection is still recommended.
To place a bid on a HUD owned property, you will need to have a licensed real estate agent submit it on your behalf. Be prepared to have earnest money ready and proof of funds or a pre-approval letter from your lender. Check with your REALTOR to determine if the property you desire will qualify for financing, prior to submitting your offer.
Competition for foreclosures has increased greatly and it is common to have multiple offer situations on the most desirable properties. If you find a home you want, make sure your REALTOR acts quickly.
Once your offer is accepted, you and your REALTOR will need to pay attention to all instructions and timelines. Documents need to be signed, and originals over-nighted to HUD within 48 hours of acceptance.
You can view HUD owned properties at their website: HUDHOMESTORE.COM.
Search all foreclosures in the Central GA area at: Warner Robins Foreclosures.
To find a HUD approved REALTOR, choose one from HUD REALTORS.