North Houston Homes

$65k – Fixer in Memorial Chase

Tim Hammond — Sat, 19 May 2012 19:53:39 +0000

$76k – 4BR in Atascocita West

Tim Hammond — Thu, 17 May 2012 17:14:34 +0000

$65k – 4BR in Atascocita Forest

Tim Hammond — Tue, 15 May 2012 14:50:45 +0000

$95k – 2009 in Deerbrook Estates

Tim Hammond — Sat, 12 May 2012 14:45:39 +0000

$85k – 2007 in Forestwood

Tim Hammond — Sat, 12 May 2012 14:29:12 +0000

$93k – Near The Woodlands

Tim Hammond — Sat, 17 Mar 2012 20:09:20 +0000

How to Buy a HUD Home

Tim Hammond — Fri, 23 Dec 2011 13:48:10 +0000

What is a HUD Home?

When a Federally Insured Mortgage goes into foreclosure, the lender can collect on the mortgage insurance and transfer ownership of the foreclosed property to the U.S. Department of Housing and Urban Development. The Department is commonly referred to as “HUD,” and the foreclosures transferred to HUD are called “HUD Homes.”

HUD Homes are sold on an “as-is” basis. If there are any defects in these properties, HUD will not make repairs.

Who is Allowed to Buy a HUD Home?

HUD homes are offered exclusively to Owner-Occupants, Nonprofits & Government Agencies for 30 days. If an acceptable bid is not received during the first 30 days, daily bidding opens for all bidders on day 31.

How To Place a Bid on a HUD Home

Your online bid must be placed by an agent associated with a HUD Approved Broker. The following four steps must be completed before your bid is submitted:

Provide Proof of Funds and/or a Mortgage Pre-Approval Letter
View the property with an authorized agent
Sign the HUD Sales Contract and related Disclosure Forms
Bring Earnest Money in the form of a Cashier’s Check payable to HUD

WHAT IS EARNEST MONEY?

Earnest money is money put down to demonstrate your seriousness about buying a home. It must be substantial enough to demonstrate good faith and is usually 1-5% of the purchase price. [HUD will specify how much earnest money is required for each HUD home bid.] If your bid is accepted, the earnest money becomes part of your down payment or closing costs. If your bid is rejected, the earnest money will be returned to you. If you back out of a deal [after a contract has been executed], you may forfeit the entire amount. – HUD.gov “100 Questions”

For More Information

Call Tim at REALM Properties – 832-212-3304, OR
Visit the HUD Home Store at www.HudHomeStore.com

North Houston Homes

$65k – Fixer in Memorial Chase

Map Link: 17230 Chaseloch St, Spring, TX 77379

$76k – 4BR in Atascocita West

Map Link: 5302 Moonshadows Dr, Humble, TX 77346

$65k – 4BR in Atascocita Forest

Map Link: 4019 Wintergreen Dr, Humble, TX 77396

$95k – 2009 in Deerbrook Estates

Map Link: 9007 Plume Tree Dr, Humble, TX 77338