To Begin, allow me to walk you thru the Hud process. You can actually keep an eye on houses that are released on the market from this website by searching the areas that you want to live in.
Go to
See Home Buyers
View Property Listings
Select a State – “Texas”
Hit Search
You can define search by County, City, bedrooms, or price range.
If you select city, only houses in that city will pull up.
If you select county, every house in all cities that are within that county will come up.
Always – search at least 3 bedrooms and 2 bathrooms for easy resale. This is the standard home size that most people are looking for when buying. I know you’re excited about buying a home, but we need to look at your “resale value” too.
Property Type should always be “Single Family Residence,” unless you just want to see everything on the market.
Once complete hit “SEARCH”
What I’ve instructed above are the important keys when searching for houses.
Once the listing come up choose a property to read up on –Pay attention to the DEADLINES, we must have bids by the deadline otherwise we can not bid.
You will be competing with a lot of other buyers. If you bid higher then the other buyer and win the house, you still may have equity in the home.
Below each address you will see information about the particular house. Right below the info about the house you will see a link that says “Click Here for more details”
A property info page will come up—
You will see a box that says “Details”
In that box is another link that says “Click here” to view the Property Conditions Report and Lead Based Paint Disclosures as applicable.
Click on the link
This link will inform you of all the property’s info that the government is aware of. Remember Hud homes are foreclosed homes that the Government had an agreement with the lender “FHA” loans stating that if the buyer was foreclosed on, the Government would buy it from the bank so that the bank doesn’t lose any money. These houses are generally under market value. Some need repair, some do not. You can find Hud homes all around the Austin area: Cedar Park, Round Rock, Leander, Georgetown, Smithville, Bastrop, Manor, Elgin, Lakeway, Kyle, and Buda.
You never know where a great investment is so it is important to keep your eyes open. If you see a house that interests you email the address, or identifying number to me that Hud assigns to it and I can figure the best possible bid.
Pay attention to the deadline. It is very important, if we see a house that is due that night and we don’t view it that day you may not have another opportunity to bid on it. I do not recommend placing a bid on a house you haven’t seen. The bidding process is a blind bid, meaning no one knows what anyone else is bidding.
The first week a house comes out, it will go to family owners, if no families bid, then investors have the opportunity to purchase the house. The second week investors are competing against investors and believe me there are a lot of investors who bid on Hud. What I really love about Hud Homes is the fact that Hud will pay up to 3% closing costs for a person who is buying as they’re primary home. Make sure that the comments on the house says “insured” otherwise there could be possible issues with the house and the lender may not approve the loan.
We should still keep our eyes open for other properties too, but definitely always try Hud homes. Please Contact me if you have any questions.