Great Deal on HUD Home for sale in South Richland

Many people have asked us about the foreclosure at 229 Center Blvd in South Richland.  It’s a 4 bedroom, 2 bath, 2028 sq ft house in Willowbrook.  It’s been empty for quite some time, and has just become available for purchase through the HUD program for $182,000.  This is a fantastic deal for the neighborhood!

229 Center, listed courtesy of Windermere

The home and yard need a little TLC.  Repairs are estimated to be $4202.00.  We’d be happy to take you inside if you’d like to see it.

HUD homes can be a great deal, but there are a few qualifications, and you need to be ready at short notice.  If you qualify, we can help you submit a bid.

  • Current bids are exclusively for owner occupant, nonprofit, or government agency bidders (bids open up to investors after 30 days).
  • Bidders must be pre-qualified.  This is a step beyond the typical pre-approval.  You can get a pre-qualification letter from your lender after they verify your employment, assets, income, credit reports, etc.
  • Obtain $1000 earnest money (must be Cashier Check or U.S. Postal Money Order).
  • Submit offer by April 29th, 11:59 p.m. CST.  We need all paperwork from you by the 28th.
  • Overbidding–if you’re using FHA financing, the loan amount cannot exceed the list price.  If you’re using a conventional loan or opt to pay the difference in cash, you may overbid the property (within your lender’s approval).
  • Loan info–eligible for FHA 203(k) loan.  Repair Escrow is $4202.00 (buyer’s responsibility to pay for repairs to the property).  The money is held in escrow until the the required repairs are completed (within 90 days).
  • At the end of the offer period,  HUD will generally accept the highest bid.

Click here:  229 Center Blvd  for more pictures and information direct from the MLS listing.

Ckick here:  Dept of Housing & Urban Development for more information on buying a HUD home.

If you have questions about this house or any other properties, we’d be happy to answer them.   For loan questions, we’ll refer you to a loan officer who can answer your questions and get you started on pre-qualification.  If you aren’t interested in this property, but want to be ready to jump on a similar opportunity in the future, we’ll get you started–just give us a call!

 

 

 

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