The HUD home for $50k that we looked at over the weekend was nice. Well, as nice as a HUD home can be : ) No work on the outside, nice deck with nice fenced in yard that has a view of the lake (it kind of sits on a hill). The roof/siding were in good shape too. The inside was as expected needing carpet, paint, appliances, etc. It is listed as only a 2/1 at 984 sq ft but the basement is studded out/insulated just waiting to be finished. It also has a 1/2 bath that has plumbing and electric already done including a new toilet and sink. The basement just needs drywall, tape/mud, paint, carpet and some finishing. This would add another 300 sq. ft and a 1/2 bath. Not really another bedroom though unless you made the whole thing your bedroom? It also has a framed out bar for those who like to entertain - ha, ha. Anyway, I think this is a good deal so we are putting in an offer of $48k total so I'm expecting to get an accepted offer tomorrow unless someone bids $50k (which would still be a good deal). Hopefully we'll get this one under contract.
There are also 3 other HUD properties we are watching and waiting to come down one more time to make them good deals. I'll keep you posted.
The HUD home we are closing on Monday may have a buyer. We do not have a contract BUT I think she really wants the house. She is newly divorced single mom looking for cheap housing. Oh, I think I mentioned her in a previous post... her mortgage would be WAAY cheaper than rent. Anyway, she told me today she would be getting a USDA loan which I think could cause seasoning issues. I really don't want to hold the house 3 months if necessary but I think this house would be a great fit for her! IF she really wants to put an offer in I may talk to my lender and see what he can do. I want to help her out if I can.........
I have to go back to work. Later!
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