FHA Homes for Sale
By admin | March 17, 2008
Have you ever seen an advertisement for a buyer’s guide to purchasing homes that are sold by the government? The commercial or ad usually tells you that there are loads of homes, cars, and other property that is seized by the government all the time, and you can learn how to buy these properties for pennies on the dollar if you purchase their book, subscribe to their website, or pay a one time fee for an ebook.
The truth is that you do not need to pay money to find out how to purchase homes from the FHA, you only need to go to their homes for sale website at http://www.fha.gov/homes.cfm Here you will find information including:
• How to purchase a home from the FHA. The homes that the FHA are selling are foreclosures that were guaranteed by the government, and now that the mortgage loan was foreclosed on, the government owns the house and is responsible for the sale. This site also features the homes that are for sale from the Department of Veterans Affairs.
• Once you go to the site you can enter the state you are interested in purchasing a home in, and the city. Then a list will come up that shows the price of the home, square footage, number of bedrooms, number of bathrooms, and more. It will also tell you if there are any buyer incentives or broker incentives for the home.
• The FHA offers discount ts and incentives for owner-occupants. Owner-occupants are people who purchase the home as their primary residence. The FHA and VA offer their homes for sale to people who plan to occupy the home before they offer them for sale to real estate investors.
• You CAN NOT purchase homes from the government for pennies on the dollar. Sometimes there are discounts available to non-profit organizations or other government agencies that are purchasing a home from the FHA, but a normal civilian citizen will pay a reasonable price for the home, but it is usually under the appraised value of the home, which is still a good deal.
• Each home has a specific period of time in which the FHA will accept offers on that particular home. If you are interested in buying a home, you must have a broker make a bid on the home during this allotted time. The FHA accepts the highest bid for the home from a registered FHA broker.
For more information on purchasing homes from HUD, the FHA, or the VA go to http://www.fha.gov/homes.cfm
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