Disclosure Key to HUD Home Purchase - Advantages of Buying HUD Homes AZ

Disclosure Key to HUD Home Purchase - Advantages of Buying HUD Homes AZ

In this uncertain Arizona Real Estate Market, buyers are often times left with unanswered questions when purchasing a Bank Owned Home or going through the Short Sale Process. With Bank Owned Homes, since the "Bank" has never truly occupied the Home, they cannot disclose any critical information the home buyer needs. Buyers will not receive a SPDS (Sellers Property Disclosure Statement-a 7 Page Document outlining all the details of the home under its current owner, example of such items disclosed are if the home had a Scorpion Problem, if any renovation or remodel was completed or if any major appliance was replaced). The Consumer will not receive a CLUE Report nor will the Bank Provide a Termite Inspection Report or an Appraisal, in a typical Market, these items are standard and typically, aside from the appraisal, all provided by the Seller.
So what's the answer? Government Foreclosed Homes or HUD. These homes have all been Inspected and HUD Provides the Consumer with a Property Inspection Report. This Report covers all the ins and outs of the Homes Condition. This report covers the Structure, Roof, Foundation, Electrical, Plumbing, Hot Water Heater, Air Conditioning & Heat Pump just to name a few. The Appraisal on a HUD Home is done under the scope of FHA Loan. Which allows the Home Buyer to understand the Home is FHA Insurable, so aside from minor cosmetic issues, the home is move in ready.
Here is a list of what the home Consumer knows with HUD Homes, up front:

• FHA Appraisal has been Completed.
• Termite Inspection has been Completed, if applicable, the home is treated for Termites.
• Property Inspection has been Completed.

Another added bonus for buying a HUD Home is Pricing. The Property is typically priced at or below current market value, by doing this, the Consumer knows what they are paying for. Often times, due to HUD Guidelines, the Consumer can actually get a Better Deal with a HUD Home as opposed to a Bank Owned Home or a Short Sale. In order to Purchase a HUD Home the Consumer needs to work with an Authorized HUD Broker. To find such a broker in Arizona. 
The biggest advantages to {purchasing|buying} a HUD Home is the information you know up front. The Appraisal, Termite and Inspection Report have been completed, this can save the {buyer|consumer} up to $1,000 of up front costs. The other true advantage is the Price. When you use a HUD Designated Broker, he/she can inform you on how you can get an even better entry price on an already Appraised HUD Home. You cannot {purchase|buy} a HUD Home without a Designated HUD Broker. This is your first step in {Home Ownership|Owning a Home} and ensuring all your rights are protected. Normal FHA Financing is available on HUD Homes.
Its also important to note, these homes are available to both owner occupants and investors. There are certain restrictions for each, feel free to contact me for further information and discussions on purchasing a HUD Home.

For More Information:

Chris Dunham ~ 602-321-6188

RLS8GUY@Yahoo.com

"When You're Ready to Sell or Buy ~ Call Chris Dunham, The Real Estate Guy!"

"Thanks for Stopping By!"