Preparing HUD Foreclosed Homes For SaleBefore HUD foreclosed homes goes on the market it is the responsibilty of the Marketing and Management(M&M) Contractor to prepare them for sale and market them.
1. They have to maked sure that the titles of HUD repo homes are in HUD's name. 2. Have a termite and insect inspection done on the HUD foreclosed homes. 3. Clean the government owned home and remove trash. 4. Order a FHA appraisal. This determines "Market Value". 5. Determine any damages to HUD repo homes and repairs needed. 6. Change locks on the doors and maintain the government owned home. Marketing the HUD foreclosed homes: 1. Forward information about HUD repo homes to the local listing agent so they will be listed on the local multiple listing service. 2. List the properties on M&M Contractor's website. 3. Take bids for the HUD foreclosed homes and select winning bidders. 4. Sign contract for HUD. 5. Work with their closing agent to insure closing.
This is an example of HUD home Texas. It is HUD homes Houston and it is listed for $78,500.
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