Email: Paul@SouthJerseyHomes.com
Information for those considering the purchase of a "HUD" home in New Jersey.
Homes owned by HUD (The US Department of Housing and
Urban Development) are obtained by HUD as a result of foreclosed FHA
loans. When HUD takes title they clean out the houses, make sure the
title is clear, have them appraised and put them on the "HUD list" for
bidding. They use the appraised amount as their "list price". Most
sales are for much more than the 'list price'.
For a current list of Government Homes for sale in NJ go to:
www.southjerseyhomes.com/homes/hdupdate.htm
The HUD list is free and is updated daily (Monday through Friday).
The new listings are posted on Friday and are available to be viewed by owner occupant bidders for 10 days. Only brokers that are "HUD registered brokers" can place bids on these homes for buyers.
You must have a prequalification letter to bid. You must also provide an "earnest money deposit" which will be returned to you if you are not the winning bidder. That is a HUD requirement. For information about how the bidding process works or to make an appointment to view the interior of one or more of the homes call, Paul Howard, Broker, at NJHomeBuyer.com Realty at 856-773-0633. We have been authorized by HUD to show and take bids on these homes. For more insight into the viewing and bidding process see:
Email-Paul@SouthJerseyHomes.com