what are the advantages/disadvantages to buying a hud home?

Tips and Deals Forums Buying Your Home what are the advantages/disadvantages to buying a hud home?

This topic contains 5 replies, has 4 voices, and was last updated by  Anonymous 8 years, 3 months ago.

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  • #208892


    or a foreclosed home. . . .

  • #268238


    The big advantage is a low price. You don’t pay more than you want to because you bid on the property. The disadvantages are they are usually in bad neighborhoods, they are usually in disrepair and you usually can’t do a proper inspection of the property. You may be better off buying the conventional way.

  • #283630


    There are many advantages. You may have to do some repair, you are buying the house “as is” so you may want to hire a house inspector to check it out first. (By the way, house inspectors are not licensed and take no liability for mistakes…but its better than nothing!).

    If you are handy and can make many repairs yourself, you have increased the value just by moving in!

    There are alot of repossessed homes on the market now due to many refinanced their homes when the rates went down and didn’t learn how to take care of their money anyways.

    Have fun, there are some nice ones out there! Merry Christmas!

  • #440788


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    Also try ebay for online businesses..

    Good Luck

  • #440789


    I’m not sure what you mean but about.com has some credit repair information.
    Credit repair services must follow specific guidelines from the Credit Repair Organizations Act, which are intended to protect consumers. Never, ever, do business with an agency that :

    Asks you to pay any amount of money for credit repair before services are provided.
    Advises you to dispute all negative information in your credit report.
    Promises you the impossible – that accurate records of negative information (bankruptcies, tax liens, etc.) will be removed from your file.
    Offers to help you get a new credit identity.

  • #440790


    Check with your local chamber of commerce, they will be able to tell you for sure. Email me at loomisb@ipalouse.com if you need a website.

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