Livonia HUD homes – How to make an offer.
| Making an offer on a Livonia HUD home is initially different than putting in another offer on any otherhome. Why is the offer process on a HUD home is different from what you’re used to? Initially there is no paperwork, or earnest money checks. Your offer is put in by your real estate agent on line. Your agent will need your name, social security number, address, offer price, and if you are asking for seller’s concessions. This is all required information to put in a bid. It must be inputted via a computer. HUD home offers can be cancelled with no earnest money forfeiture. Once your offer is submitted, it can be cancelled before the HUD agent opens the bid electronically, or after by sending an email to the company managing the home. Until the contract is signed, the earnest money is not in jeopardy, so there are a few days after the bid is accepted to cancel your bid. After your offer is accepted then your agent will get you the HUD forms and addendums that you need to sign. These signed forms, the earnest money check and your mortgage pre-approval letter has to be back to the HUD agent within two business days or you lose the house. So that is how making an offer on a Livonia HUD home is different than buying other foreclosures or short sales. Always feel free to call with questions about the home buying process. If you are a first time Livonia home buyer the home buying process can be confusing. So don’t be afraid to email me @yesmyrealtor@gmail.com or call (248) 310-6239 with questions. We are here to help. Michigan property taxes – questions and answers Farmington Hills MI foreclosures Dear Mr. Banker a Metro Detroit short sale story
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