Repoman brings you the best buys in Boise Idaho homes & real estate for sale!
HUD Foreclosed Homes- Boise Idaho Real Estate
A s Repoman, I stri ve to be your local resource for homes and real estate bargains in the Boise Idaho area. I sold my first HUD home 20 years ago and, as a HUD registered broker today, I can tell you- HUD offers some of the best bargains in the market on homes for sale. Give yourself the best chance of success by hiring an expert to represent you in the purchase. HUD pays your buyer's agent.
Today, February 7th, there are 27 HUD Homes for sale in Ada/Canyon counties. A few HUD Homes have been reduced 10% or more off the current as-is appraised value. HUD will also pay most closing costs and take less than asking.
Contact me for showings and information on HUD Homes for sale in the Treasure Valley. Also investor opportunties.
HUDHomeStore -search HUD Homes nationwide by city, county, price, etc.
Learn more about HUD homes from the source at HUD.GOV and about Buying HUD Homes
Also see my weekly top ten outstanding bargains in government & bank-owned homes and real estate including multi-family investment properties- Repomans Best Buys
Are HUD Homes Risky to Buy?
As a buyer's broker, my job is to protect you from risk. In my opinion, HUD Homes are as safe to buy as any other in the Boise area for the following reasons:
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No worries about value- Unlike almost every other home for sale, HUD Homes are appraised in advance and the orginal asking price is the as-is appraised value.
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No worries about major hidden defects- An inspection with photos is available online for every home. You also have 15 days from acceptance to activate utilities, hire your own inspector, and cancel the purchase and get your earnest money back, subject to HUD's approval.
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Offers contingent on financing- Should you lose your job or get denied for the loan, you may get your earnest money back, unlike most auctions that require large non-refundable deposits.
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All junior liens are wiped out in a foreclosure- no surprise bills after closing.
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You also get a warranty deed and title insurance against future claims for peace of mind on title.
Knowing HUD's System Can Make You Thousands.
HUD foreclosures are sold via online closed bids. This system has set bid periods, set minimum prices, aggressive price reductions and is difficult to learn. There is a 30-day owner-occupant priority period on new listings giving homebuyers first shot. But after that, bids go daily and investors can bid. Daily bids are a rare & remarkable opportunity in real estate. With less than an18-hour window for competing offers, a minimum bid has an excellent chance.
Where do HUDs come from?
HUD homes come from foreclosures on FHA insured loans. After the lender repossession on FHA loans, the lender's claim is paid and the foreclosed property is deeded to HUD, which acts as a holding arm of the government. FHA now insures around $8 Billion in loans in the Boise area.
What are HUD homes?
HUD foreclosed homes can be any 1-4 unit residential property in the Boise area financed FHA up to approximately $300k including homes, homes with acreage, condos, townhouses and manufactured homes on land. While rare, multi-family or income properties; duplexes, triplexes and four-plexes can also be HUD homes, if previously financed FHA by an owner occupant.
Do You Qualify to Buy HUDs?
There are no income limits or special qualifications to buy HUD homes in the Boise area. Any homebuyer or investor with a social security number or EIN who can secure financing or pay cash can bid on HUD foreclosure homes. Hud does restrict new listings to homebuyers only for the first 30 days.
Dan Rowe ABR CRS GRI, Broker
Boise Idaho real estate broker, Repoman-Dan Rowe, has been representing buyers and investors since 1991 on foreclosed homes owned by HUD, VA and REO property owned by various banks and lenders. Repoman serves the Boise Metro area including Meridian, Eagle, Star, Kuna, Nampa, Caldwell, Middleton, Ada County, Canyon County, Treasure Valley, Southwest Idaho.
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