by Julia Odom, the Chattanooga Real Estate Bloggess
If you’d prefer to listen to this post instead of reading it, click to be taken to the podcast: Earnest Money for HUD Homes Coming up with an earnest money amount is usually a matter of negotiation when you are buying a home. You offer the seller $7.47 and they ask for $12,500.00. You want… Read More
A while back I wrote several posts about the HUD home buying process. HUD did an overhaul of the way they do business and some of those points are no longer valid. Most of the changes aren’t anything that the typical buyer would even notice but some things are a good bit different. Bid periods… Read More
One of the very best-est things about buying a HUD home as an owner occupant is the $100 down payment program available with FHA financing. Since 80/20 mortgages went the way of the dinosaur, there have been only a few options for those who don’t have the cash for a traditional 3.5-5% down payment. One… Read More
One of the stranger things about buying a HUD house is that you don’t actually get any keys to your new abode. When HUD takes over a property, they come in and have the locks changed. The key that fits your new HUD home, also fits every other HUD home in the area (in the… Read More
This is the 2nd thrilling installment of “Everything you ever needed to know about buying a HUD house in Chattanooga but were afraid to ask.” Part One can be found here. One of the things that usually befuddles HUD buyers is the repair escrow. In a HUD listing you’ll often (but not always) see the… Read More
One of the advantages of buying a HUD house with FHA financing is that you don’t have to get an appraisal. HUD’s already taken care of that for you and very graciously agreed to sell the house at exactly that price. So you won’t need to worry so much about the difference between an appraisal… Read More
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