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Bob and JoAnn Levine |
"SERVICE IS OUR SPECIALTY" We go the extra mile! |
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(805) 657-9001
DRE#s 01293722 01783138
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To visit the HUD.GOV / HUDHomes site, please click logo above
What is a HUD Home?
When someone with a HUD insured mortgage can't meet the payments, the lender forecloses on the home; HUD pays the lender what is owed; and HUD takes ownership of the home. HUD then sells the home at market value.
Who can sell HUD homes?
Any licensed real estate agent or broker who is registered with HUD may show and submit bids on behalf of purchasers. We belong to one of the few Listing Brokers in Southern California who is registered with HUD.
Who can buy a HUD home?
Anyone with a valid Tax ID (*SSN or Employer Federal Tax ID) issued in the United States can buy a HUD home. Potential buyers must qualify for a mortgage or pay cash to buy a HUD home. Buyers must have a pre-qualification letter from a certified lender, or proof of funds in the amount of, or greater than the gross purchase price of the property.
How can I buy a HUD home?
Start by finding a participating real estate agent. Your real estate agent must submit your bid for you. Normally, HUD Homes are sold in an "Offer Period." At the end of the Offer Period, all offers are opened and considered to be received simultaneously, and, basically, the highest acceptable net bid is accepted. If the home isn't sold in the initial Offer Period, you can submit a bid until the home is sold. Bids can be submitted any day of the week, including weekends and holidays. They will be opened the next business day. The results from the review of all accepted bids are posted on our website. It is the responsibility of the real estate agent to check our website for accepted bid information and ensure that all the required forms are properly filled out and sent to us within two business days of acceptance.
How can I find a HUD home?
We have a link to HUD homes above.
How do I search for a property?
You can search for all the HUD properties in a state by clicking on the state on the map or selecting it from the list.
You can type in part of the street address, or part of any of the other text fields. The system will select all properties that contain in the corresponding fields the letters or numbers that you type in.
You can also search by a price range, number of bedrooms or bathrooms, buyer type, or property status.
Can I buy a home for investment purposes?
Yes. However, during the initial listing, owner-occupants get priority. If an owner-occupant does not bid on the home, then investors can bid on the home.
Can I bid on homes myself?
No. HUD requires all bids be submitted through an authorized HUD broker. Click the Find Broker link on the top menu or in the Property Details screen to find a registered HUD broker in your area.
Do I need an agent to make an offer?
You cannot put in an offer on a HUD Home by yourself. You must use a Selling Broker who is licensed to sell HUD Homes to represent you, or you can go through the Listing Broker for the home.
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