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Since the turn of the economy we have been selling more HUD homes with $100 dollar down payment. I must share with all that there are many obstacles to overcome while purchasing a HUD home.

1. To qualify for the $100 down payment you must pay full price. Now HUD does not care about if you ask for 3% max allowable closing cost allowance. HUD just wants a full price offer. One penny less will disqualify you from the $100 down payment program.

2. Once you have contracted a HUD home you have will have 15 days for an inspection. One catch is that your real estate agent will have to submit a form in a timely manner to get permission for an inspection. BE SURE when purchasing a HUD home to be aware of all the deadlines. It could cost you money if you fail to comply with all time lines. Click here for HOME BUYING Process

3. HUD does not turn on utility services for inspections. The future home buyer will have to turn the utilities on in their own name at their own cost.

4. HUD homes are sold as is. I have seen in some instances where there was a mechanical issue and it was repaired. If you find a HUD home without an appliance such as an refrigerator or stove it will be sold as is. No negotiating. MORE INFORMATION.

Please feel free to post any comments or questions.

Call 512-691-9383 for me details

CLICK HERE TO SEARCH HUD HOMES

With the economy changing we are experiencing more and more Short Sale transactions. You may know the Short Sale process as a Pre-Foreclosure. Simply put a Short Sale is when a home owner is behind on payments and typically has no equity in the property. At this point the home owner can apply for a short sale with the bank. Banks are mostly willing to work the home owner to sell property. The bank typically will allow the property to sell 12%-20%+ below appraised value, making a short sale/pre-foreclosure a great investment option. Please post any comments with further questions or suggestions. Thank you! SEARCH PRE-FORECLOSURES NOW

The video below will better explain the search system.

 
 Scott was born near Lafayette, Louisiana. While attending Louisiana State University, he was a successful on site manager for River Road Properties, and oversaw a 35 unit complex of Lofts, and Townhouses with an average of a 98% occupancy rate. Upon graduation, from LSU, in Marketing with minor in Real Estate, he worked in Hotel and Sales Management, for national corporations, such as Embassy Suites, and Marriott International, in New Orleans, London, and St. Thomas Virgin Islands. While working and building a private service company in New Orleans, he also invested and rehabilitated several million dollars in properties. In addition, he managed over 1 Million dollars in property for other investors. After moving to Austin three years ago, he began investing in the local market. Only then deciding to become a Realtor in order to utilize all of his hands on knowledge and experience in advising and assisting other investors and friends,in obtaining Texas Real Estate, to suit their needs. "If I could become that successful with a little vision, foresight, and confidence, and the right touch, I knew I could help other's invest long term or just help create the home of their dreams with a little vision." . By actually living Downtown he keeps extra close attention to trends and new developments in Downtown Austin and its surrounding areas. He also specializes in the burgeoning east side, and of course the ever popular South Austin Markets, Exciting new projects featuring SOCO (S. congress) and SOLA (S. Lamar) areas are also expanding and great buying or selling opportunities abound. Scott is proud to be a part of the Paramount Realty Family. Contact him for ANY questions you may have. If you want to find the value of your home or just want to start looking for something new, he's the realtor for you. Scott@paramountrealtyaustin.com.Please type your custom message in the space provided. For your convenience, this box has been sized to match the actual width of the Web box as it will appear on your site.

As you may already know FHA still allows for down payment assistance. The difference as of October 1st 2008 is that the seller may not contribute to the down payment. The good news is that family members, charities, and government programs may still contribute to the down payment.

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