Seeking Advice on HUD/FHA purchases

[Tripp Warren]

Hi all,

HUD IS HARD WORK!

I found a property by driving for $$'s and it had a nice little HUD posting on the door. I've reached out to FHA, to the management comany listed on the posting, to the person still listed as owner on the tax appraisal certs, and to the management company that paid the taxes last (not the same as on posting). I'm not really gaining any traction and I know only slightly more now than when I did a month ago. This property is a fantastic find. But I can't seem to find out who to contact or what stage of foreclosure it's in. My personal RE Agent wasn't a HUD registered agent. I had to find one in the area and the only one I could find is a 78 year old lady (nice as can be) but can't really figure out technology (email/internet).

What kind of tips do you all have for getting some traction in situations like this?

Desperately Seeking Sale,

Tripp

[Jeff Copeland]

There's really not much you can do until it is listed for sale. 

HUD will do what they have to do, at their own pace, as far as title work (which can take months) and property preservation, and then they will list it with a realtor and via the HUD Home Store. All offers will have to be submitted through a HUD registered agent via the HUD website, and it's a very nameless, faceless, emotion and negotiation free process: You submit your offer, and you get a yes or no answer a week or so later. 

There is usually a 2-3 week "first look period" for owner occupants and non-profits only, then they start accepting bids from the general public. 

In the meantime, keep an eye on the MLS and the HUD Home Store.