I know the economy is tough right now and everyone is pinching pennies. However, if you’ve got vision and financial savvy you may be able to purchase your next home for next to nothing.

HUD has a special program for owner occupants only that allows you to purchase an insured HUD foreclosures for $100 down payment. It’s a wonderful tool that many first time buyers are taking advantage of.

We are certified HUD agents in the great Raleigh/Durham, NC area. There may or may not be a home that matches your needs, but it never hurts to keep your radar scanning. These properties are in varied levels of repair. I’ve seen homes look brand new and others that needed a total overhaul. A majority of the time they are in livable condition and just need a little love.

Every Friday new and reduced HUD homes are posted at hmbireo There are pictures, property reports and information for the public to view there. However, if you find a home you like, you have to have a registered agent place a bid for you. HUD wants to make sure buyers are represented properly.

Also, make sure you understand your rights and contracts. There are some sticky spots in timing and possible scenarios for you to lose a deposit if you walk away from the deal.

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Filed under: Buying

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