John A. Stephens
Florida Real Estate in Marion county,
Calling all Bargain Hunters
Realty specializes in getting our clients the best
homes at the best prices. We closely track both local & national
bank foreclosures as well as HUD, VA, and Fannie Mae owned resale properties.
Many times we are familiar
with properties well before they are placed on the market.
This gives our clients the best chance of making an early offer --
and snapping up a bargain.
Government Owned Homes...
What are HUD & VA homes?
VA homes were previously purchased with a government insured mortgages
(either FHA or VA). For whatever reasons, the previous homeowner was unable
or unwilling to make their payments, so the banks holding the mortgages
began foreclosure proceedings. Since the mortgages were insured by FHA
(HUD) or VA, the government then paid the bank -- and took ownership of
the properties. The homes are then appraised and sold by competitive
Do I have to be a Veteran to purchase
a VA home?
You do not have
to be a veteran to purchase a VA owned home. All bidders are welcome --
owner occupants as well as investors. The highest bidder wins!
Do I have to be "low income" to purchase
a HUD home?
HUD homes are
available to all purchasers -- regardless of income. HUD offers their properties
to owner occupants only for the initial 10 days - then the bidding is opened
up to anyone, including investors. Many of HUD's homes are moderately priced
What are the down payment requirements?
on these homes tend to be lower (as low as 1 1/4%) than homes on the general
market. Remember -- the government wants to sell them! Each home's down
payment requirements depend on the price of the home and are set by HUD
What are the requirements for bidding
on a HUD/VA owned home?
to be well prepared when considering the purchase of a home. HUD &
VA require that all bidders be prequalified by a lender before bidding.
It's easy to get prequalified -- and it's free.
Earnest money checks
must be certified funds, with the amount depending on the home you choose.
All bidding is done through licensed real estate agents that have been
approved by VA or HUD. Southern Comfort Realty is approved
by both agencies.
How do I find out about HUD & VA
Each agency advertises
their properties when they are available for sale. We closely track local
bank foreclosures and many times are familiar with a property even before
HUD or VA takes possession. We also maintain a "notify" list. If a property
comes up for bid that meets your needs -- we immediately notify you. While
you sit back and relax, we do the work for you.
Are all HUD/VA homes "handyman specials?"
Most of these
homes are in need of some TLC -- whether it's simply cleaning up the home
and cutting the grass or cosmetics such as carpet & paint -- the value
added can be worth far more than your investment. (And remember -- "elbow
grease" is free!)
Occasionally homes may
have code or zoning violations, or have major defects. We recommend
a complete home inspection to avoid any unpleasant or costly surprises
for our clients.
What about home inspections?
our clients to obtain a home inspection on any property they are considering
purchasing, whether it's on the general market, or a government owned home.
It's a good way to avoid unpleasant surprises later and help assure you
are getting a good deal.
Are HUD & VA homes "good deals?"
Many times these
homes offer very good values, sometimes they don't. We are familiar with
the local market and will complete a market analysis, if necessary. Here
at Southern Comfort Realty our clients come first. We will advise you if
we think you are overbidding on a property.
Does Southern Comfort Realty represent
HUD or VA?
No. We represent
you, the buyer, when purchasing a HUD or VA owned home.
How do I bid on a government owned home?
Call us! We'll
show you the homes available, advise you on the estimated market value
of the home of your choice, complete the paperwork and handle all the
details for you.
And remember -- when choosing
Comfort Realty as your team mate -- we assist you every step of the
John A. Stephens
13691 SW 39th Ct.
Ocala, Florida 34473
All information contained in this site is believed to be true and accurate but is not guaranteed.
Designs by John of Citra
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