Colorado Springs Vintage Homes Blog

7 reasons to buy a HUD home in Colorado Springs

Colorado Springs HUD home

7 Reasons to Buy

For a FREE list of Foreclosure Homes, Email KTorline@msn.com

1. Comprehensive Property Report;   HUD has already had a property inspection report done on their properties.  Hence, you have an idea of what needs to be fixed on them.  A buyer should still get an inspection done; but it’s nice to know most of what needs to be done before you put in a bid; it cuts down on the surprises.
2. Precise Bid Periods:   All HUD properties are on a bid period, consequently you’ll know quickly whether or not your bid has been accepted.
3. Low Downpayment:   $100.00 down.   Yes I did type this correctly.  You can get into a HUD property for $100.00 down.
4. Attractive pricing:  HUD properties seem to be discounted about 20% to 25% from the general market.
5. Options for Financing:  Many of the HUD properties are available for an FHA 203K loan, a rehab type loan.  Consequently a buyer can borrow  more than the cost of the house and have extra funds available for major repairs.
6. Easy to Show:  All of the properties are accessible by a HUD key, consequently a Realtor doesn’t need to make an appointment to show the property.
7. Research on Pricing Available:  It’s easy to research the bid statistics on properties; hence a buyer and their Realtor can get a feel for how the pricing works and what the winning bids are.   Currently, a fair amount of the winning bids are going for more than the asking price.   Also, many of the properties are getting 4, 5 even 6 bids on them.

 If you enjoyed reading this article, why not Subscribe to be notified of the next one?  Related Posts

• Homes sold “As Is” in Colorado Springs….what does it mean?
• Homes in Colorado Springs, 5 things to know about buying foreclosures
• Buying HUD homes in Colorado Springs, Part I
• Buying HUD homes in Colorado Springs, Part II
• Colorado Springs HUD Homes – Part III in FAQ’s
• HUD homes available for $100.00 downpayment
• Fake HUD sites — Buyers Beware

It’s important to  utilize a Colorado Springs Real Estate Agent that specializes in Foreclosures, and HUD Homes.  

Call Kathy Torline – Nordstrom at 719-287-1049 KTorline@msn.com

Tags: colorado springs foreclosures, Colorado Springs Houses, colorado springs realty, HUD home in Colorado Springs, HUD homes in Colorado Springs

This entry was posted on Tuesday, September 29th, 2009 at 7:44 am and is filed under For Buyers, Foreclosures and Short Sales. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Jacob Christensen said at October 8th, 2009 at 10:25 am

   Well.. I believe now home buyers will get convinced about investing their money in Colorado Springs real estate market… Recommended!

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