If you are preparing to launch a home search in the San Diego area, you likely have a good idea of what sort of features you want in your new house. As you look at various properties, it is a good idea to make notes of certain features you love or hate at each one. This can make it easier to decide which house to submit an offer for when the time comes.
The thing is brokers have a lot more resources than a normal person, like M.S.L. This is the advantage of having a broker on side so make sure you make the most of it.
First, we need to discuss what a “HUD home” is. A HUD home is a property that has been foreclosed on that originally used FHA insured financing to purchase the property. The homeowner could not make the payments for whatever reasons and the lender foreclosed on it. HUD then reimburses the lender for what is owed to the lender and HUD takes ownership of the property.
That’s a radical proposition to most people, but thanks to the miracle of the Internet, it’s possible. Instead of going to a three-day seminar and being “crammed” with information, what if you could learn all the intricacies of a real estate investment transaction in real time? It’s not only possible it’s practical. My sister-in-law is completing her Master’s degree in business and only a fraction of her time as been spent in a classroom. She is doing most of her work on-line.
The next day I received a call from my Online Broker Test telling me that we had an offer on the house for nearly the asking price. While in the process of completing my counter-offer (and having it accepted), she called again the next day and told me we had another offer if the first one fell through. For the next few hours, I was busy faxing and signing agreements securing the sale of my home and office to one of two parties.
HUD homes are sold by using a sealed bidding process and the home is sold to the person who offers the highest bid. You don’t know what other people are bidding so you don’t want to bid too low or else you won’t get it. You really want to do your research here – check the market value for homes similar to this HUD home for sale, and factor in any repair costs that may be needed to bring the home up to a satisfactory living standard.
Just prepare yourself and your house before hand for selling your luxury house. Take help from real estate brokers, as they are experienced and selling houses is their job.