Indianapolis HUD Homes and Information

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Dennis Nottingham
January 10, 2014
2 minutes, 38 seconds
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INDIANAPOLIS HUD HOMES

Type of Buyers being prioritized for Indianapolis HUD homes

Basically, Indianapolis HUD homes are being sold first to buyers who intend to live in the house, and not to those who merely wanted to buy the house for investment purposes. Then again, if you are an investor and really wanted to have a HUD house, you need to hang around until the so called “priority period” for owner-occupant buyers end. It usually varies in the state where the home is being sold. In most cities of Indiana, priority is usually given to buyers who are acquiring homes for the first time.

Difference between a conventional house from a HUD house

A major difference of a conventional house against a HUD home, is the fact that you will have to recruit the services of a HUD certified real estate broker to transact HUD dealings. HUD homes are accessed by HUD agents only and they are the only ones who can present your offer or bid to HUD. The offer is then submitted electronically to the HUD system after paperworks have been made.

HUD Foreclosures

When talking about HUD foreclosures which Indianapolis also offers, the process of selling HUD homes are quite different as well. It commences with the Offer period, from which bids are received from your agent. The owner-occupants will have to bid on the houses being sold during the first ten days the listing is active. In case after the ten day period, and no bid is accepted, the investors can ultimately bid for the chosen property. Generally, HUD accepts the highest bid or the bid that is near to the highest net. And in the event that the HUD home remains unsold after the initial period, then bids are opened again.

REMAX of Indianapolis specializes in helping homeowners purchase Indianapolis HUD homes throughout Central Indiana.

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