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Would you buy a HUD Forclosed home?

We found one in our area selling for 30thousand.

Anyways it seems to fit our needs and we're looking at it tomorrow. Its a 3 bedroom 2 bath.

we've never boughten a HUD home before or any house for that matter.....
Have any of you had any experience with this and whats it like or should we do it?

 
lstrickland

Asked by lstrickland at 5:19 PM on Apr. 6, 2009 in Just for Fun

Level 19 (7,042 Credits)
This question is closed.
Answers (6)
  • I bought one years ago and loved it. We bought it before we went inside. Turns out it had 4 bedrooms and 2 baths but was listed as 3 br and one bath! Years later I gave it to my x in the divorce then the jerk let them foreclose on him after I left. I miss that house!
    admckenzie

    Answer by admckenzie at 5:36 PM on Apr. 6, 2009

  • OH yeah it was bulit in 1993 and is on an Acer and a half. Its in good shape just needs a tiny bit of siding work my hubby can do himself.
    lstrickland

    Answer by lstrickland at 5:19 PM on Apr. 6, 2009

  • I haven't done it, but I don't see why not. It's on an acre and a half so it can't possibly be in a "bad" neighborhood. I would do it, except that is a lot of lawn work. We have a big fenced in yard for our dogs, but they are tiny dogs. If you don't mind taking care of all that land, then go for it. I don't know why the fact that it was a HUD home would make any difference.
    BridgetC140

    Answer by BridgetC140 at 5:24 PM on Apr. 6, 2009

  • I wouldn't see why not. I work for an assessor's office and we see a lot for foreclosures come through our office. I know you can get a great deal on them, but sometimes they are trashed by the former owners. 30 thousand sound like an awesome deal, at that price I would think you could very easily afford to fix it up!
    mommy2karsyn

    Answer by mommy2karsyn at 5:25 PM on Apr. 6, 2009

  • sure why not? if it fits your families needs and its something that you could make your own. i say go for it!!!
    jaja247

    Answer by jaja247 at 5:45 PM on Apr. 6, 2009

  • Get an inspection, so you know what is lurking around the corner. Also, get a good inspector for wood destroying organisms and mold and mildew.
    Anonymous

    Answer by Anonymous at 6:18 PM on Apr. 6, 2009