October 13, 2021
“Be Prepared!” That was the motto that many of us were grew up with. Showing and selling HUD Homes is no exception. Taking the time to gather the essential items can make all the difference.
Before you and your clients head to the house to see it, having some basic information about the home is vital. A visit to HUDHOMESTORE.com would be the first step. After you find the desired property, take a good look at the information. You will see data regarding the house and information about the time remaining to bid, who can bid, etc. While foreclosed homes generally offer little in the way of info regarding systems and conditions, HUD has done some work to help with this. Go to the addendums tab and obtain the attached forms, most notably the Property Condition Report. Taking these forms on your showing may shed some light on the plumbing, furnace and other systems in the home.
HUD Homes are also listed in the local Multiple Listing Service MLS in addition to HUDHOMESTORE.com. Many listing Brokers have the PCR and other helpful info attached to their HUD listings. Bring copies of these for your clients.
When it’s time for the showing, it is important to follow the showing instruction set forth by the listing agent. Listing agents will often require a showing appointment to made, usually through an automated listing service. This will insure a private window of time for you and you clients.
HUD Homes may or may not have active power, so you will want to bring one or more flashlights. The homes are sold in “as-is” condition and usually contain some defects. Tripping hazards will be marked by bright colored tape. There may be missing flooring or other conditions to watch out for.
HUD Homes in Michigan have winterized plumbing with the water supply shut off. Of course, this means that you will need to prepare yourself and your clients to be with out bathroom facilities during the duration of the showing.
The most important thing to bring when showing HUD Homes is an open mind! These homes are often in need of a fresh perspective someone to make them back into a home. They can be a wonderful opportunity for owner-occupant buyers and investors alike. Having an idea of what to expect by reviewing the provided information can help the buyer evaluate the property to see if it fits their needs.