How to buy a HUD home in Atlanta Georgia

Many people have asked lately how to go about buying a HUD property in Georgia. There are a lot of deals in the real estate market. Here it goes in a short Blog.

1. A pre-qualification letter from the lender must accompany your offer. This letter must indicate that the lender is aware that the buyer is purchasing a HUD home and that a credit report was to determine loan eligibility.

2. All offers are subject to mortgage insurance company approval. The buyer does not have a binding agreement until they receive a copy of the executed contract from the seller.

3. Earnest money in the amount of $500 (sales price under $49,999) or $1000,00 (sales price over $50,000) must be in the form of certified funds, money order or cashiers check made payable to the Selling Agent’s Real Estate Company.

4. A HUD property is Sold “AS IS”. This means no repairs will be made. A home inspection is at the Buyer’s discretion and expense and must be ordered 15 days of accepted contract. Buyer must request and pay for all utility service activations.

5. A termite letter is available and must be ordered 7 days prior to closing.

6. Seller does not provide a Home Warranty Protection Plan.

7. Closing services will be preformed by Seller’s closing attorney. The purchaser may have their own attorney in addition to or in lieu of the seller’s; however this is at their own (the purchaser’s expense).

8. All closing dates that are extended will be at the Buyer’s expense. Extensions must be requested prior to the expiration of sales contract with a money order, cashier’s check or certified funds delivered to HUD’s closing attorney.

9. All closing packages must be at the closing attorney’s office 3-5 days prior to closing.

10. Terms in the seller’s addendum override any conflicting information in the GAR form.

Your contract has many time sensitive requirements. Go to the HUD sight and read the contract completely and if you have any questions do not hesitate to call me. Only a registered authorized HUD agent can represent you & place bids on HUD’S electronic online system for you.

Remember, I would like the opportunity to represent & help you through the process.

 

 

 

HUD’S Website: www.hudpemco.com/

 

 

John J. Reinhardt 

Solid Source Realty

770.475.1130  Ext.  6806

www.InFrontMarketing.com

 

 

 

 

 

 

 

 

 

 

 

 

Tags: Add new tag, Alpharetta GA homes, alpharetta georgia, Atlanta, Atlanta country club communities, Atlanta executive homes, Atlanta Golf Communities, Atlanta Golf Courses, Atlanta golf homes, Atlanta homes for sale, Atlanta luxury homes, Atlanta Real Estate, Austell, Bargin homes, Bargin homes Atlanta Georgia, boating, buy luxury house, buyer agents, buyers agent, Buyers Agent Alpharetta GA, Buyers agent Atlanta GA, buying luxury home, clubhouse, Cobb County GA Luxury Real Estate, Cobb County GA real estate agent, Cobb County Georgia Luxury Home Sales, Cobb County schools, corporate, Country Clubs, custom, East Cobb Real Estate, Estates, family-oriented, Find Cobb County Luxury Real Estate and Homes for Sale, Find Cobb County Real Estate Agent, find luxury homes, Find Luxury Marietta GA Real Estate and Homes for Sale, golf communities, high-end, hiking, home search, homes for sale, Homes for Sale in Atlanta, horse, house value, houses, how to buy a HUD home, HUD homes, HUD homes Georgia, john j. reinhardt, john j. reinhardt remax, john reinhardt, john reinhardt remax greater atlanta, Kennesaw, Kennesaw GA Real Estate Resource, lake properties, lakefront, luxury real estate, mansions, Marietta, Marietta GA Homes for sale, Marietta Georgia Real Estate, Marietta Georgia Realtor, marina, new home Atlanta GA, new homes, property, Real Estate, REMAX Realtor, School Information for Atlanta, search Atlanta Metro real estate listings, Search MLS Listings, sell luxury house, selling luxury home, Sells Cobb County Georgia, Smyrna, Specializing in Luxury Real Estate, trails, Vinings, Welcome to Atlanta, Woodstock Georgia