Shop for HUD Homes

SHOPPING FOR A HOME

I. YOU CAN RELY UPON A REALTOR/REALTIST

  1. Licensed by the State of Michigan
  2. Member of a Professional Organization that subscribes to a Code of Ethics
  3. The Real Estate Agent should listen to your needs and desires  and provide options that need those needs, be truthful with your agents about your abilities and finances.

 

II. AN AGENT DOES NOT SELECT FOR THE BUYER; THE AGENT FACILITATES YOUR SELECTION

  1. Identify your needs
  2. Determine your abilities
  3. Cash/Mortgage
  4. Decide locations that are desirable

 

III. EMD IS REQUIRED TO SHOW YOUR GOOD FAITH

  1. A Seller must take their dwelling of the market
  2. The listing usually states a minimum deposit
  3. If the home does not meet your needs, you can cancel during the inspection period and your deposit will be returned
  4. Inspections should be arranged by you. Find your own inspector. This report goes to you and the buyer.

 

IV. SAFEGUARDS

  1. Home Warranty Policies
  2. Municipal Inspections/Private Inspections
  3. Investigate amount of property taxes payable
  4. Close only with a Title Company that will make certain:
    1. No back taxes
    2. All water bills are brought current
    3. No liens that could cloud your ownership

 

V. EXPLORE YOUR OPTIONS

  1. HUD Homes
  2. M.S.H.D.A. Financing
  3. Down payment assistance programs
  4. Bank programs for Veterans