2006-12-06 09:09:54 · 4 answers · asked by kadagaba 1 in Business & Finance ➔ Renting & Real Estate
or a foreclosed home. . . .
2006-12-06 09:17:24 · update #1
There are many advantages. You may have to do some repair, you are buying the house "as is" so you may want to hire a house inspector to check it out first. (By the way, house inspectors are not licensed and take no liability for mistakes...but its better than nothing!).
If you are handy and can make many repairs yourself, you have increased the value just by moving in!
There are alot of repossessed homes on the market now due to many refinanced their homes when the rates went down and didn't learn how to take care of their money anyways.
Have fun, there are some nice ones out there! Merry Christmas!
2006-12-07 00:24:42 · answer #1 · answered by Barbara 5 · 0⤊ 0⤋
even with if well-known or FHA, they're though challenge to an appraisal in order that may favor to now no longer make any vast vast difference. it really is complicated procuring a HUD abode by technique of truth they bypass away the bidding technique open till they get carry of a suitable bid and because that they're receiving different bids it ought to bypass over record cost. If someone is bidding over record cost they're in all likelihood funds customers. the subsequent time you position up a bid tell your agent to bypass away the "date for acceptance" open. realtor.sailor
2016-11-24 19:33:50 · answer #2 · answered by valesquez 4 · 0⤊ 0⤋
The big advantage is a low price. You don't pay more than you want to because you bid on the property. The disadvantages are they are usually in bad neighborhoods, they are usually in disrepair and you usually can't do a proper inspection of the property. You may be better off buying the conventional way.
2006-12-06 09:18:15 · answer #3 · answered by Big R 6 · 0⤊ 2⤋
Buying a home HUD owns or a HUD approved home or buying with HUD money? Please clarify your question
2006-12-06 09:12:33 · answer #4 · answered by Anonymous · 0⤊ 2⤋