Browse Maricopa AZ HUD Home Properties
Maricopa Arizona HUD Homes for Sale:
HUD real estate market conditions:
- Number of homes for sale: 6
- Most affordable home is listed at : $115,000
- The average house on the market is priced at: $117,000
- Most expensive property is selling for: $122,000
- Average year home built: 2006
real estate RAY 480.335.2355
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Information About HUD Real Estate: Buying a HUD Home, HUD homes for sale in Maricopa Arizona:
1. What is a HUD home? When a loan that was insured by the Federal Housing Administration (FHA) goes into default, the lender begins the process to collect on the loan. The lender may submit a claim against the FHA insurance fund and convey ownership of the property to the United States Department of Housing and Urban Development (HUD). HUD then sells the property at the current market value.
2. How are HUD homes Sold in Maricopa? HUD real estate / homes are listed in the MLS and on the internet. Since real estate RAY is employed by a broker that is registered to sell HUD properties, he can place an electronic bid on behalf of any prospective Buyer. The bid with the highest net to HUD is selected as the provisional winner, subject to receipt of all required documents. To begin the process call RAY at 480.335.2355.
3. Who can buy a HUD home? Any Buyer that can secure a loan to purchase real estate, or can pay cash, is eligible to purchase a HUD home in Maricopa, Arizona. Purchasers must use a broker or agent who is registered with HUD to submit a bid on a property. Purchasers must also have a pre-qualification letter from a lender or proof of cash funds in the amount of, or greater than the property they are purchasing.
4. HUD's As-Is Policy: HUD makes no representations or warranties concerning the condition of hte property, including but not limited to mechanical systems, dry basement, foundation, structural, or compliance with code, zoing or building requirements and will make no repairs to the property. HUD does not guarantee or warrant that the property is free of visible or hidden defects, termite damage, lead base paint, or any other condition that may render the property uninhabitable or otherwise un-useable. The Buyer agrees to accept the property in the condition at the time of contract acceptance. Purchasers are encouraged to have a home inspection performed to identify any possible defects.
5.Paying more that listed price with FHA financing: If you are obtaining FHA financing you will be required to use HUD's FHA As-Is Appraisal (unless HUD's Appraisal is over 6 months old, then the Buyer will be required to obtain a new FHA As-Is appraisal at their expense). If you bid in excess of the appraised value, and the Buyer must pay the difference between bid amount and appraised value in cash. This is because FHA will not insure a loan for greater than the appraised value of the property.
6. Bidding for investors: For the first 10 days on all new listings, preference is given to Owner Occupant Buyers. If a contract is cancelled and the full 10 days on the market have not been fulfilled the property will be offered exclusively to Owner Occupants until after this period has been completed. Price reductions are sometimes made on properties and for 5 days following a price reduction preference will be given to Owner Occupant Buyers. Bids by investors will not be accepted until the end of the Owner Occupany Period.
7. Re-keying the property after settlement: Buyers are responsible for re-keying the locks of the property immediately after settlement for their own security.
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Active HUD homes for sale in Maricopa AZ:
July 2010: 14 HUD homes for sale in Maricopa AZ. The average price is $92,000 with 2198 square feet and on the market for 36 days.
June 2010: There are 12 HUD homes currently for sale. The average list price is $91,000 with 2,200 square feet.
HUD homes that sold in Maricopa AZ:
June 2010: 20 HUD homes sold in Maricpoa AZ with an average price of $86,000 with 2000 square feet and selling at 98% of list price.
May 2010: 19 HUD homes sold with an average selling price of $74,000 with 2,000 square feet at 96% of list price.
Jan. 1 to April 1: 39 HUD homes have sold in Maricopa, Arizona. The average HUD home sold was $84,000 with 1984 square feet. The list price to selling price is 95%.
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Search: HUD homes for sale in Maricopa, Maricopa AZ HUD homes for sale, HUD homes in Maricopa Arizona.
For questions about Maricopa Arizona HUD real estate and HUD homes for sale in Maricopa AZ, call
real estate RAY @ 480.335.2355.
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