We apologize, but the forums are closed for new posts. Click Here To Join The Unemployables Facebook Group

Welcome, Guest. Please login or register.
December 01, 2022, 06:17:16 am
Home Help Search Calendar Login Register

Welcome, Guest. Please login or register.
December 01, 2022, 06:17:16 am
Home Help Search Calendar Login Register

Author Topic: HUD homes in Albany, NY  (Read 1306 times)

Offline jgjh151

  • Member
  • *
  • Posts: 43
HUD homes in Albany, NY
« on: February 21, 2007, 08:31:01 am »
I'm just trying to understand HUD homes a little more in Albany, NY. 

  • Can any agent put an offer on one or do they need to have some registration?
  • Are all the HUD homes in this area listed by a single real estate agency?
  • Who sets the sale price of the HUD home?
Thanks,
Jon

Offline kdhastedt

  • Member
  • *****
  • Posts: 5807
Re: HUD homes in Albany, NY
« Reply #1 on: February 21, 2007, 08:47:58 am »
<<Can any agent put an offer on one or do they need to have some registration?>>

"Any real estate broker registered with HUD may submit an offer and contract to purchase on your behalf. HUD pays the real estate broker's commission, if included in the contract."  (http://www.hud.gov/offices/hsg/sfh/reo/reobuyfaq.cfm)

<<Are all the HUD homes in this area listed by a single real estate agency? >>

"All properties available for purchase by the public are offered for sale at Internet listing sites maintained by management companies under contract to HUD."  (http://www.hud.gov/offices/hsg/sfh/reo/reobuyfaq.cfm)

<<Who sets the sale price of the HUD home?>>

HUD sets the list price based on a market appraisal.  The property is then auctioned through HUD's on-line auction process...they will accept the highest "Net to HUD" offer that exceeds their established threshold.

I would recommend that you read the HUD website in its entirety and understand the process before proceeding.


Keith
I have CDO...it's like OCD but in alphabetical order - the way it should be!

 




SMF 2.0.15 | SMF © 2017, Simple Machines