How to Buy a HUD Home using Hudhomestore.com

More information on HUD homes here: investfourmore...
HUD homes can be awesome deals for many people. However, the buying process is much different from a normal house purchase. I go through the buying process in this video and show people how to search for homes on the HUD website: hudhomestore.com.
I have listed hundreds of HUD homes and know the process in and out. The key to getting HUD homes using a real estate agent who knows how the process works.
I am a HUD listing broker and an expert on HUD homes.

[@Promentir]

After watching your video I feel very confident to summit my first HUD bid. Thank you for your time on recording this video.

[@investfourmore]

+Promentir Great to hear!

[@thendiaya]

Thanks, I'm a new agent in the Cleveland, Ohio area and I will be actively investing in the real estate market. Your video was filled with great information! Again, thanks!

[@investfourmore]

Donald Gregory Glad to hear it helped!

[@nazemelmasri1966]

Hi: I am watching this video right now...do you work with veterans?...I am 100% disabled living in a HUD VASH apartment paying 30% of my income 956.00 per month, with bills will be about 1400 per month.with food and transportation, it is my whole income per month...I live in Hayward CA ( bay area) , but I am interested in buying a home , but with as low monthly payment as possible, what city or state will that be and how low can I get my mortgage tome on a single family two bedroom house with a nice yard, I would like to have coffee outside as well as my meals, which I cannot do where I live..I am planning on moving out of California again in search of cheaper housing, what city or state do you suggest?....also I have bad credit no one will loan me anything..what do you suggest?...

[@marcellaRoberson-k7x]

In dc or Baltimore md

[@dimondDave100]

GOOD VIDEO BUT YOUR WRONG ON HUD home that is under FHA loan they will escro and pay in escro more enough to do the repair. What a contractor does not need be licensed to do repairs. The work is less than they what the person doing the repair they put the difference to pay down my loan. This is fact in Ohio

[@josh47807]

I know this video is old but you were talking about certified funds for paying for the home, what about paying with a credit card?

[@investfourmore]

Not sure you can do that

[@vriciasanchez]

Great information. I’m registered to bid on HUD houses in California. Already closed a few for my investor.

[@eraquisanesby36]

hello, can you help me in mississippi?

[@yourneighborhoodrealtor1432]

This was amazing. I'm new to submitting offers to the site and this gave me a bit more insight but it didn't take me through the process of submitting. do you have a video for that because some of the questions they are asking me are confusing? And why are they call everyone a seller? I'm the buyer's agent?, This is also confusing. please help.

[@GenerationalHealthAndWealth]

Hi, thank you for your helpful video. So if the plumbing is damaged and it's FHA uninsured, how does one go about finding a loan lender and purchasing the house?

[@youcantbeatpetemaimone0419]

repair escrow loan or renovation loan like FHA 203K or FHA 203B with repair escrow are the typical ways to finance and close on these homes as an owner occupants.

[@shanewhitelock2049]

Does anyone know what happened to this HUD website it is not around anymore

[@leidysfernandez2709]

if you buy a hud home cash as owner occupant how long do you need to wait until you can re-sell it or rent it out? I am in FL. Thanks for such an amazing video.

[@investfourmore]

12 months

[@investfourmore]

The law says you must live there 12 months not just wait 12 months to rent it. It is a federal crime to intentionally do that and people do get caught.

[@renanuneza8932]

Can you help me buy a HUD home as an owner occupant in CA?

[@investfourmore]

I cannot sorry. I am in Colorado

[@katebrunne4311]

Mark- What if a particular HUD home's repair escrow does not give an estimated cost of repairs and simply lists the repairs needed? Who determines the cost, the buyer's inspector? Is it just assumed to be less than $10,000 since it is Insured Escrow? Very important...thanks!!!

[@investfourmore]

the appraiser

[@Jekyll_Island_Creatures]

This is excellent information Mark. Thank you!

[@investfourmore]

no problem!

[@blazetvchannel]

Pls how can I have a one on one consultation

[@townsound]

Extremely informative. Thanks a lot for this.

[@investfourmore]

No problem!

[@ariscaprice7766]

This is the best video on this. Great job Mark!

[@YaniP-g7s]

can regular people bid on this website?

[@georgebaltakianrealestate4189]

Thanks for the video! super informative. Quick question - I have a CA real estate license but i have not hung it with an employing broker. Would i be able to purchase a home through the platform as an investor? Without doing the NAID process?

[@investfourmore]

Yes you can but you would have to use an agent to submit the offer for you

[@cab3304]

hi...thank you for all the info. I have a couple of questions. I've searched all over and can not get a clear answer. I'm a real estate agent, but I would like to bid on a HUD home as my primary residence. My broker does not have a NAID. Can I bid on a home for myself? Can I apply for a NAID? Thanks

[@investfourmore]

Your broker has to apply for the NAID and it can take 6 weeks. You would have to use an agent with a valid NAID to bid on it.

[@josepiliado3238]

Thanks for the info, the video is very helpful, I put in a bid on a hud home that has a damage water line leading to the main water line, so the plumbing could not be tested, If I win the bid what would be the best way to go about it? based on the video HUD will not allow any repairs. Do you think a home inspector would be able to find out if the ploblem is major or a simple fix?I'm paying cash for the home and the home is FHA Financing: IE (Insured Escrow ),

[@investfourmore]

A home inspector should be able to tell how serious it is with an air pressure test.

[@janetdungan2878]

so because I have a license I am unable to buy these properties? I feel like having my license is a curse, home owners don't want to talk to me, wholesalers teach as if I don't have a license, brokerages want me to work 9-5 and not mentor me to sell a house and I can't work 5 months with no mentorship and no income and expect my landlord to understand. I've had my license now for 2.5 yrs and have been unable to do a single thing.

[@investfourmore]

no, only if you are a HUD listing broker or someone in your office is a hud listing broker.

[@janetdungan2878]

@@investfourmore I work for a small brokerage, the chains were too controlling and wanted me to do only retail and come to office 9-5 and made me feel like I had a job-job and provided zero mentorship and training, rather they did but trainers were always "busy", I registered and it said my app was accepted. I just want to earn a living in this business

[@TMB1974]

If I am an investor buying a HUD to flip to another investor buyer, wouldn't it be the responsibility of that buyer to pay for the utilities to be turned on for inspection?

[@investfourmore]

It depends on how you set up the deal.

[@senorgringolingo]

@28:07 what do you mean "they would lower the net bids they accept"? Do they cap the number of accepted bids? Where do we find out about that? Thanks!

[@investfourmore]

After a certain amount of days they would lower the bid amount, not the number of bids. They only accept one bid at a time.

[@JorgeHernandez-ri3ct]

whats the web site address?

[@mariannpersad6725]

great info video! I was looking at some HUD properties in Puerto Rico. You answered all of my questions.

[@investfourmore]

Great to hear!

[@TheMountainbobcat]

question: what really is the ratified contract? what are they doing? eliminating or adding or both? thanks cc

[@investfourmore]

TheMountainbobcat Ratified contract means all parties have signed and it is binding.

[@MerryTrader]

Does someone publish historical data showing HUD's list prices vs accepted bids?

[@investfourmore]

Not that I know of

[@smoothandbase]

if no one wants a particular house and the price keeps dropping what happens then?How low will they go when they auction it off?

[@investfourmore]

They keep dropping it until it does sell.

[@tasmaniastate6815]

there are no homes there just ugly ruins

[@meritsummer]

Are there differences in purchasing an FHA insured HUD home with a VA loan as opposed to an FHA loan?

[@investfourmore]

+Lyric Jacobs Yes, if VA requires any repairs to be made, HUD will not do it and you most likely can't escrow them. With FHA you can escrow the repairs

[@scabbard56]

Thanks for this very good video. Considering putting a bid on a HUD home as an investor. Lot's of good info.

[@investfourmore]

You are welcome

[@emiliomejia5331]

thank you for the valuable info. I am now buying properties using hard money, but they take 8-15 days for the funds to come thru. How. long or can we set the closing date on the contract? Thanks again for your valuable insight

[@investfourmore]

I think you get 15 days for cash or hard money but I would check with your agent for sure

[@Dancesmoves]

I won an offer but it turns out that that house has a mortgage, now I have to wait for the city to pay that mortgage to be able to make the closing, you don't know how long that process takes

[@Dancesmoves]

I won an offer but it turns out that that house has a mortgage, now I have to wait for the city to pay that mortgage to be able to make the closing, you don't know how long that process takes

[@darrylcatay2295]

What happens if there is no PCR on a house you want to bid on ?

[@investfourmore]

There should be one on every house. Do you have the address?

[@Trishalove143]

Can I bid on 20 k if that’s all I have 🥺

[@investfourmore]

yes but they may not take it

[@DaddyDaze]

Hey Mark! I'm looking to buy a HUD house. Quick question! I placed a bid on one and the bid submission time ended at midnight last night but now they've started a daily bid submission. Does this mean my bid hadn't been accepted or should I just be patient and see what's going on?

[@miguelochoa4210]

In order to wholesale it, can you get a private money lender to lend you the money and then sell the property once you bought it?

[@dannycollier768]

Lost me at HUD only will accept 10% less than list... or I.E. , "I list hud home is makes me less money if you offer to low. "

[@uterpia]

Thank you.

[@olymipanmountians5165]

So you have to be an agent to bid on hud store

[@investfourmore]

yes, a buyer has to have another agent bid if they are not one or not registered with HUD

[@MrsQ-nc1jw]

how to get out hud conttacys

[@investfourmore]

Ask you agent who submitted the bid. How you get depends on the reason you want out and if you are an investor or owner occupant.

[@katherinepolicy2515]

Are there any agents in MA?

[@investfourmore]

Yes

[@CyberSerene]

Very helpful!

[@investfourmore]

Glad it was helpful!

[@joemorrow8696]

Hey do you have an one on one coaching program. Thanks

[@victoriatilghman628]

❤

[@renatanorcia1275]

Thanks for a great video!

[@dianegarcia2469]

how much am I able to bid on a home?

[@jackieayala9860]

To see the information you have to make a monthly payment? I’m not able to see anything if I don’t provide my card number.

[@investfourmore]

Not on hudhomestore.com

[@jackieayala9860]

@@investfourmore thank you so much!

[@LTDANMAN44]

i placed a bid on a home today for 10k over list. it is still in owner occupancy bid status. will they accept my bid or wait for all bids to come in then select the highest one when the owner occupancy bids end?

[@investfourmore]

they won't review bids until the initial bid period is over

[@TheMountainbobcat]

HUD home, forget about it! DONT do it! after jumping through many hoops, finally sign a commitment letter, closing is scheduled in 7 days, but two days later after the weekend, Hud suddenly produces the lead paint disclosure and findings, and there is lead. Then my lending bank backs the hell out, and it seems everyone is able to back out of the binding signed contract and the lawyer is like how bad do you want this place, and then cant even find any fools who want to contract the removal of or sealing of lead paint, no body wants the job. So angry that our govt gives away homes to you know who and a hard working young man has cut his wrists to let the blood flow. THEY all suck, they are double standard, and sneaky as all shit!

[@investfourmore]

I have never seen a HUD closing scheduled in 7 days. It is 30 or 45 days depending on if it is a loan or cash. It sounds like you were buying as an owner occupant with FHA if the did a lead based paint test. They do those on every house that is built prior to 1978 and your agent should have told you that. It is also on one of the documents you sign that explains lead based paint. If the test comes back positive HUD will actually remove the lead based paint for you if the cost is under $4,000 at no charge to you. If the cost is over $4,000 they will give you a credit and allow you to change financing or do an FHA 203k rehab loan.

[@TheMountainbobcat]

hud selling home, he bid on and was excepted end of march, all this time getting appraisals, inspections, rehab quotes, new well needed (undisclosed but new about it) heating system, obvious when no boiler present, getting contractor, plumber, electrician and theyre quotes, and the thousand stipulations needed to qualify to do the work, insurance on a house he doesn't even own, all the paper work needed, and even filed for 15 day extension paper work, and even with those extra days, it would be 60 days to closing, which would be tomorrow Friday. this with a fha203(k) loan also HUD, from a Hud selling, and MONDAY they produce the lead paint reveal papers,................ contract breach.......... this should have been made known to him back in april.

[@investfourmore]

HUD does not provide FHA 203k loans.HUD garauntees all FHA loans, but they do not provide any of the financing or approve them. Individual lenders approve the loans and are responsible to get them to go through. I have never seen a lead based paint test come in that late in the game. All those stipulations would be exactly the same on any house when using fha203k loan. You have to make sure the lender you use is super qualified to do them or they can easily screw them up.

[@TheMountainbobcat]

well I can see your picking at what I have written that you feel you can comment on. I used a broker that has been in the business for over 30 years. The test did not come in late, some boob left it sitting on their desk and because of the boob thinking its okay to throw the test into the completed signed and stamp of approval paper to go to closing tomorrow, but screw things up. Which to me says contracts mean nothing. Its the same as you were to buy a car from me, but as you get into your car and start to drive away, I run out, and stop you, pull off your wheels and say ooops, I FORGOT to tell you the tires aren't included. CAPEESH? Your forgetting BREACH. You take a look on hud page and you will see the loans they offer, 203(k) at the bottom, they help you buy as well as sell . The stipulations? People electricians, plumbers, heating, what have you, most of them don't have certified this or that, CIA inspection, or special glow in the dark validation paper, that these dumb banks request. They do have liability and insurance but this other government made up krap is just that. Nutty and costly! When I bought a house if this krap was the deal I would not have bought a house, its too daunting for anybody, its a nightmare. The idiots have taken something for lower income people and made it nearly impossible, as well as far more costly, and a heart break . This isn't my first rodeo, and the changes I see are rigged to make the low income fail.Oh but if your from out of this country they give it all to you. You comment on how they claim house is insurable, but know that the well is 5 feet from the septic, they do lead testing april 1st then four days before closing mysteriously send it the lawyer, this is just for starters.

[@adambuysyuckyhouses]

How did u become a HUD AGENT

[@carter23-nn4bq]

how do we look at the homes in preson.? before or after we win the bid? hope this makes sense.

[@investfourmore]

Before

[@carter23-nn4bq]

@@investfourmore thanks

[@acortez16]

.com or .gov?? 🤔

[@investfourmore]

They both go to the same place

[@securedebtagency]

Can I just buy a Hud home flat out using the money from my previous house I sold

[@investfourmore]

Yes

[@securedebtagency]

+Mark Ferguson - InvestFourMore thanks