FlexIt Realty appointed by HUD as an Authorized HUD buyers Broker.
Many buyers do not know that not all agents can help them in their quest to purchase HUD properties.
The U.S. Department of Housing and Urban Development has authorized FlexIt Realty as one of the State of Michigan HUD housing brokers...specifically authorized to help buyers with the bidding and purchase process of HUD homes.
One of the ways FlexIt Realty is helping buyers find the right HUD property is by providing a "Free List" of active HUD listings. Many people do not know how or where HUD gets the homes they are selling. Here is a short overview to help you understand the process.
HUD homes are homes that were foreclosed on by lenders. HUD insured the lenders the loans would be good up to a certain amount of value. The reason for insuring loans is to get lenders to lend money to buyers. This has a two fold outcome. Lenders will lend more freely allowing some buyers to secure a mortgage with lower credit scores. This was anticipated to help the average and lower income families achieve the American dream of home ownership. The other issue was to keep money in mortgage market allowing lenders different rules and loan ratios for these types of loans.
As we have seen with the sub-prime loan programs many buyers ended up with a nightmare instead of a dream come true. The lender were insured to a certain value. The lender foreclosed on the home...turned over a claim for the insure part of the loan to HUD, the insurer and in exchange gave HUD the property which is now what is being sold as a HUD owned home.
This home has already gone through foreclosure, the sheriff's sale and is most likely empty. This leads us to a very important point for buyers to remember. These homes do not have a loving caring owner at this point. At they end of the ownership maintenance was skipped, sometimes the exiting owner even caused damage to the property just to get even with a lender that they felt wronged them.
I can not pass judgement or consider this issue...only the people in the situation can do that. But the bottom line is we represent YOU the new buyer! We want you to be able to purchase a HUD property with your eyes wide open. So there are some key issues for you to consider....we can help.
Buying is a bid process
Just because you bid does not mean HUD will take your bid!
Learn as much about the property as possible before you bid!
We know and understand the process, we can help you have a better opportunity to have your bid accepted.
HUD properties are listed by Authorized listing brokers.
Listing Brokers are not Buyer Brokers, HUD felt you should have the same level of representation that other buyers have with conventional properties. Competent representation by a HUD approved Buyer Broker. Someone who understands and meets the needs of the HUD buyer.
Owner occuppied HUD buyers have a better chance than an investment buyer of getting their bid accepted. The reason is simple....HUD wants everyone to have the opportunity of home ownership. The investor is not going to live in the property. In fact, many times they are going to repair the property to resell or rent out. Single family owner occuppied buyer bids are given first priority by HUD.
This is just a quick overview of information concerning the purchase of HUD properties.
Call Gary White toll free 877-667-4699 or direct on his cell 616-821-9375 for your free HUD home list. You can also email us at: FlexItRealty@comcast.net to get a list for your city in Michigan. We are opening multiple locations across Michigan so it is likely we will have someone in your area to offer you personal service.
You want a home? We can help. There are some great deals out there but caution will help you get a great value! Use a HUD Authorized Buyer's Broker....FlexIt Realty. We represent you...we help you...we represent your goals throughout the bid process. Thanks for considering FlexIt Realty. Call toll Free 877-667-4699 for your free HUD list.