SHOW ME THE STEPS! HOW TO BUY A HUD HOME IN GEORGIA 1. Determine How Much You Can Afford What you can afford depends on your income, credit, expenses, how much you will put down and what your interest rate will be. You can utilize online calculators to get an estimate of what you can afford, but you should talk with a Lender to find out a more accurate amount. 2. Know Your Rights Protect yourself! Research Fair Housing Laws, The Real Estate Settlement Procedures Act, Borrower’s Rights, and how to spot and avoid Predatory Lending. More information about these topics can be found on HUD’s website. 3. Shop for a Loan and Learn about Home Buying Assistance Programs Talk to several lenders before making your selection and talk with him or her about FHA loan programs, which often offer lower down payments and buyer incentives. You should also research HUD’s special programs and incentives, which can offer discounts and allowances to people in various circumstances or professions. 4. Search HUD Homes Available For Sale There are many websites that showcase homes for sale in Georgia; however the official HUD Listing Site for the state is PEMCO’s Georgia HUD Listing Site at www.HUDPEMCO.com. From this listing site you’ll be able to search all of the HUD Properties in Georgia for homes that meet your wants and needs, and also review a “Property Condition Report” for each property. 5. Contact Brandon Nichols Brandon is HUD-Registered and can assist you in your purchase. A HUD Home transaction is a little different than a “regular” sale, and Brandon is knowledgeable about the forms and procedures the system requires. Connecting with Brandon who is knowledgeable and experienced in HUD Home Sales is the most important aspect to purchasing a HUD-owned Home! 6. Make an Offer Brandon will place a bid on HUD Homes on your behalf. If you’re purchasing your home to live in it as your primary residence, you’ll be able to receive priority over buyers making offers on the property as an investment property for a given amount of time. Brandon will be able to give you more information on the HUD bidding process and timelines. 7. Get a Home Inspection Home Inspections on HUD Homes are not required, but are highly recommended, as HUD Homes are sold AS IS. Brandon will help you in this process. 8. Close at the Attorney’s Office Brandon will be at the closing with you where you will sign all the necessary papers to transfer ownership of the property to your name. The most important step to buying a HUD Home is to connect with Brandon Nichols who is registered with HUD, and is knowledgeable and experienced in HUD Home Sales! |