How do you buy a foreclosed house or Hud house?

Question

I'm looking to buy a house for pretty cheap in Hanford, Ca, but I don't know where to start.

Answer 1

First thing to do is get approved for your loan. Then it'll be like you're walking around with the money in your hand, ready to buy a house. This will be especially important if there are more people interested in the same house.

Find a Realtor who knows how to sell foreclosures (HUD, VA, bank owned) and who comes recommended by someone you trust. Tell him what you're looking to do. What kinds of stuff you can fix, what things MUST be in the house to satisfy you, etc.

You will need to submit a lender pre qualification letter with any offer on a foreclosed property. Make sure you and your Realtor closely follow the instructions for bidding and follow up. I sell alot of foreclosures and have seen agents lose a deal for improper paperwork.

Good luck.

Answer 2

this could be a listed components. in case you have an interest in know-how a thank you to purchase it, touch the itemizing agent. you should observe that HUD foreclosure's are bought as is. And for all you comprehend approximately this abode it may desire to have had a substantial indoors fire or be infested with mildew and termites. you should examine the valuables with a consultant.