BENEFITS OF BUYING A HUD HOME
o Up to 3% closing costs
o Escrow fees paid by HUD
o FHA appraisal already done and good for four months
o FHA as-is appraisal prices the home
o Owner-occupant priority bidding (no investors can bid for 30 days)
o Condo or townhome does not need project approval
o Earnest Money Deposit (EMD) - $500 - $1000
o If FHA lending used, termite and treatment is paid
o FHA 203K program (owner-occupant rehab loan) available on some homes
o Quick response to bids after 10 days
