Many buyers are looking for a great deal on an Indianapolis foreclosure. While the reality might not be as optimistic as the cable tv shows make it appear, there are some great buys out there. With HUD Homes, you go into the home with some basic information: a price based on an appraisal, a property condition report and basic data about the home. There is a bidding process in which the high bidder is awarded the property so long as it meets HUD’s minimum bid requirements. (Often banks will throw out all bids and ask for a “highest and best” after you have made your offer.)
But one of the biggest advantages of Indianapolis HUD Homes over typical Indianapolis foreclosures is that owner-occupants are given priority consideration. In fact for the first ten days after a HUD Home is listed, they do not even consider offers from investors, even if the offers are higher. And can you buy for less than appraisal? Absolutely!! In fact as of late July 2010, about 44% of the HUD Homes listed in Indiana had a list price below the appraisal.
Call me on my direct number at 317-709-2537 for more information. You can see a recent list of selected Indianapolis area HUD Homes here.