Often there are some seemingly good deals you may see either in the MLS ( Realtor.com ) or on HUDHomestore.com.
Sometimes they appear on one but not the other.
There are general guidelines:
- Most often the deed listed buyer must occupy for at at least 1 yr and cannot buy another for 2 yrs. subject to $250k fine and jail time.
- They are as is period. You pay to turn on/off utilities and rewinterize any plumbing inspection.
- Since they are as is – your min. $500 – 1000 deposit will not be returned.
- Bids are usually open for 10 days, then decided on daily for the next 5 days.
- At 15 days on market, there is a possibility for investors to bid.