Buying a home is one of the most important decisions in the life of a family. For the nervous buyer, here is a few good reasons to consider purchasing a HUD Home:
- The offer on the property is through hudhomestore.com and not a contract sent to the seller for signature. This means that if the seller accepts the bid, there isn’t a ratified contract immediately which gives the buyer latitude to not push forward with contract. They have 48 hours to submit the contract for ratification; if the contract isn’t into Sage Acquisitions, the contract is automatically cancelled.
- Bids on a property are reviewed according to a timeline so the buyer knows when they will get a response on their offer. There is a running countdown on hudhomestore on the property page. Following the exclusive listing period, bids will be reviewed every 24 hours.
- The EMD required is pre-set and not a condition of acceptance or rejection by the seller. All sales above $49,999 require a $500 EMD, anything over requires $1000.
- Per the HUD contract, on insured sales you will be able to cancel with full returned deposit due to death in the immediate family, loss of job by one of the primary breadwinners, serious illness in the family that caused financial hardship, inability to receive financing, and other good causes approved by HUD.
- All contracts have a 15 day cancellation contingency for owner occupants if buyer has an unsatisfactory home inspection, completed by a licensed, professional home inspector.
For more details about purchasing HUD homes, call us at any time or visit the HUD website at www.hudhomestore.com.