Buying A Home
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Experience buying a HUD home?
There is a HUD home for sale in our town. It was built in 2007 and the bank took it in 2010. It is a nice house and we are going to go look at it today. For the past year, they have been asking WAY too much for it but now they are taking bids. Does anyone have any experience buying one of these homes? It makes me nervous buying a home "as is" and not knowing what you are getting into. It hasn't been lived in in over a year. TIA!
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Re: Experience buying a HUD home?
You can still have inspections done on "as is" homes to find out what problems/issues it has and use that to determine whether or not you want to move forward purchasing the home.
"As is" just means the bank won't pay for any repairs. Often, buyers approach sellers after the inspection and ask them to pay for dangerous/damaged items found in the inspection.