Foreclosed homes lexington ky how to#

A thorough description of how to complete this all-important contract package and get it in correctly is available. The bid will become the acknowledged bid listed in “Search Offer Results,” allowing the agent or broker 48 hours to deliver to the appropriate Regional Office the complete and correct Sales Contract package with all addenda signed, a copy of the loan pre-qualification letter, and the earnest money check. If the bid offers the highest price, net of closing costs and commissions, above the minimum acceptable price, then the bid will be acknowledged, assuming all other considerations are met. Q: How do I make an offer to purchase? What happens after I place a bid?Ī HUD registered real estate agent or broker must place an offer in the form of an electronic bid on behalf of the client. Known defects are reflected in the price and stated in the listing on the website, as well as on the Property Condition Summary sheet. That means HUD generally will not make repairs except to preserve and protect the property or to eliminate a major safety issue. HUD homes are sold “as is,” without warranty. Q: Some HUD-owned houses might not be in good condition. You may also want to set up watchlists for areas of interest. This information is real time, so always check before you go out with your client to see properties. You may keep informed about available HUD homes by viewing the property listings on this web site. Q : Is it possible to get a list of the properties in my area? Agents can help clients get pre- qualified for a loan, show the available homes to clients, write a Sales Contract for the client to sign, and place an offer by electronic bid on behalf of a client. The broker must be registered and have a NAID with HUD to sell these homes. Q: How do I start the process of buying a HUD home? No employee, relative, or business relation of the M&M Contractor or its subcontractors may purchase any of these properties. There is an initial period when only owner occupants are allowed to purchase, after which time investors may also buy. These homes are not exclusively for low-income buyers, but most are regarded as affordable for low to moderate- income purchasers within the market areas where they are located. Anyone who is pre-qualified for a mortgage loan may offer to purchase a HUD home.

Q: Who can buy a HUD home? Are they only available for low-income buyers?Īll HUD homes are offered without regard to race, color, religion, sex, national origin, handicap, or familial status. If you are interested in HUD Properties please check out the HUD Store Home Page Hud Properties Check out Raine Properties We are very excited about this opportunity to service HUD Properties. We are a HUD Broker for the Lexington Area. We Service the Surrounding areas of Lexington, which include Nicholasville, Versailles, Richmond, Berea, Winchester, Georgetown, Lancaster, Danville, Frankfort and Lawrenceburg. You may face less competition to buy an auction house compared with buying in the traditional way, but you will also be dealing with a different pool of potential buyers-often, experienced investors.Welcome to Hunter Real Estate! We are located in Lexington Kentucky. The benefits of buying at auction include expanding your options and possibly purchasing at a discount.

Review and understand all auction rules and do your due diligence on any property you are interested in-for instance, check for claims, liens, and occupants before you bid.

If you cannot afford the risk of buying a property in poor condition, stick with auctions that allow you to inspect the property before bidding.

Auction properties often do not allow a home inspection or any legal way to view the interior in person.

You can find home auctions through local governments, real estate agents, and online sites such as and.

It is vital to be well educated about how real estate auctions work. Buying a home at auction is riskier than buying through the usual process.

Foreclosed homes lexington ky