Yesterday we talked about why this is the perfect time to seize a HUD opportunity, I have a few things to show you about the process, different screens within the website. This is all readily available and free on the internet, for every state in the US. For this article we’re only searching HUD home listings in Texas. Specifically, Tarrant County.

There are several different government organizations you can check out that have property for sale, but the majority of the other properties are seizures from business and miscellaneous organizations. Check out them out here. But for the purposes of this articles, we’re targeting foreclosures, so we’re just going to go for HUD. If you have the time and patience, another good thing to research for foreclosures would be banks for loans defaulted with them.

So here are a few pages you’ll see in the search. The first is a screen shot of the search parameters by county, the second of cities that have listings and the third is a screen shot of a few of the results after hitting the search button.
Selections by County on HUD Site Search Capabilities Results After Search

Now there are a few things I want to point out to you about the three listings I captured in this last shot.

The first one lists a damaged foundation in the comments, right away you have something to work with, but we all know you don’t want to deal with foundation problems. The second says the same, so we move on. The third says: Converted garage and evidence of mold not remediated (they haven’t corrected any mold if there is any) - this is on every listing. So if you don’t mind a converted garage, we move on and notice that the house is FHA Insured, a very good thing. That means you don’t have to fix anything before they’re willing to insure it, this will save you time and money.

This is just the beginning, tomorrow I’ll write about the disclosure statements you can find, you’ll need Adobe Reader to view the files yourself from HUD (so download it here if you’re looking), but I’ll be providing screen shots of the disclosure I talk about for our purposes. They’re very detailed, sometimes 20 pages plus so be sure to come back tomorrow to find out just how much you can find out about HUD homes from right where you sit.

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