On Mon, 21 Feb 2005 10:51:55 -0600, "John A. Weeks III"
wrote:

In article .com,
"sally" wrote:

What should I look out for, what should I make sure I keep in mind
about buying a home with HUD? Im here in Seattle where the starter home
is 250K. I'm curious about auctions and VA auctions. Definitely not
picky, I just want to get into a place and start fixing it up slowly,
because we are definitly getting old. The prices are so cruel, however
it is not as cruel as in California where starter homes are half a
million dollars I realize.

HUD homes are houses that have been walked away from by the
previus owner. They are normally vacant for a long time,
trashed, and often have significant and costly structural
problems. Be sure to carefully inspect any home you consider
buying, and be sure to get a qualified house inspector to
give it the once-over.

Also know your own skill level on fixing up the house; what you can
handle and what you can't. Plus it will be useful for you to get to
know house values in all the neighborhoods you're interested in so
that when a house comes up you'll know what to bid. When I bought
my HUD house I went thru a realtor and I'd guess that's the same in
every state. Look around for the right realtor and he/she can help
you understand house values.
It's not too common for a nice house to come up in a nice neighborhood
thru HUD or VA because upscale homes are less likely to go into
foreclosure. When one does come up in such a neighborhood the
bidding can be pretty competitive. I just missed a VA home that I
really wanted and suspect I would have had it if I'd bid 3K higher.
Good luck!