The supply of available homes for sale is so low and many homes are receiving multiple offers. Learning about the HUD home buying process is another great avenue for first time home buyers and investors.
Long Beach, CA (PRWEB) November 13, 2012
Shandrow Group and Boardwalk Properties are hosting a free HUD Buying Seminar, “How to Sell HUD Homes” at the Long Beach Petroleum Club on DATE from 2:00 to 3:00 pm. The seminar is designed to teach real estate agents and mortgage lenders how to successfully buy and submit offers on HUD owned homes.
A HUD home is a one to four unit residential property acquired by HUD (U.S. Department of Housing and Urban Development) as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss of the foreclosure claim.
The free event will cover topics important to the HUD sales process, which includes:
- Who can buy HUD properties
- How to register with HUD
- Bidding or submitting offers (Offer Period)
- How priority bidding works
- How to market, advertise, and show HUD homes
- The four listing periods: Lottery, Exclusive, Extended & Dollar Homes
- Types of financing listing codes? (I, IE, UI)
- What is and how to write a complete HUD sales contract
- Important must know: Do’s and Don’ts.
“The supply of available homes for sale is so low and many homes are receiving multiple offers. Learning about the HUD home buying process is another great avenue for first time home buyers and investors,” says Mark Shandrow, CEO & Broker at Shandrow Group . “We put these seminars on so real estate professionals can learn the tips and tricks of buying a HUD home.”
Millions of working-class families have achieved home ownership thanks to the Federal Housing Administration (FHA). The agency can be credited for preventing a complete collapse in the housing market, and the FHA’s actions over the past few years have saved taxpayers billions of dollars by preventing plummeting home-prices, foreclosures, and millions of lost jobs.
“Without FHA’s support, middle-class families would have a tougher time getting a home loan since the housing crisis began,” says Ray Warda, Outreach Director of BLB Resources. The FHA serves a vital purpose of expanding homeownership to disadvantaged segments of the market. It helped to prevent a much deeper economic decline by providing liquidity during the height of economic distress.
Warda adds, “Now is a great time to take advantage of the housing market with growing stability and opportunities for first-time homebuyers, while contributing to the recovery of our local economy.” Homeowners are given preferential treatment over investors in the sale of a HUD home. First time homebuyers can find comfort in knowing that they have a chance at a great deal in a home and not worry about being outbid by investors.
Agents and loan officers will be on hand to answer questions and help with pre-qualifications and financing questions. Attendees should remember to ask about the Good Neighbor Next Door Program that allows many civil servant professionals to receive a substantial incentive on eligible properties.
The Long Beach Petroleum Club is located at 3636 Linden Avenue in Long Beach, California, and the event will start at 2:00 p.m. and finish at 3:00 p.m. To find out more or to RSVP to this free seminar, register online at http://agents.eventbrite.com or call 562-364-9505 ext 100.
About the Shandrow Group
Shandrow Group is a forward-thinking real estate firm that uses the advances in technology and marketing to reduce real estate transaction costs while also providing superior service. Responding to current market conditions, Shandrow Group primarily focuses on REO disposition, short sale negotiations and buyer controlled sales. During it’s first year of operations (2009), Shandrow Group closed 115 real estate transactions with an average days on market of 38 days. More information about the group can be found on their website at http://www.shandrowgroup.com. Equal Housing Opportunity.