December 1st, 2008 by Michael Oliver

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Right now in Rancho Sahuarita there is a HUD home on the market awaiting bids, the bids close at 12/2/08. Basically the home is a 1624sf 2 story Pulte home priced at a pretty ridiculous (low) price of $139,500! This home was built in 2002 and offers 3 beds and 2 baths. Like I have been talking about on this blog right now there are lots of “deals” being throw around and in my opinion this is a pretty good one. A Rancho Sahuarita 6 year old, 1624sf home currently at the bid stage of a HUD sale with an asking price of $139,500. HUD homes work much differently then a regular foreclosure home sale. If you need more info about the HUD process go over to our regular website www.SellingTucsonRealEstate.com and then click on the “HUD Homes” section you can learn all about how they are bought and what you as a buyer would need to do to obtain one.

Currently this home is priced at $85 per square foot, however with the bidding process a buyer could purchase it for less then that (or less then the $139,500 asking price) assuming no one else out bid you. This is 50/50 a lot of agents and few of the public know much about how to purchase a HUD Home in fact there are only a handful of agents that have the proper HUD keys to get access to these homes. I have access to these as I have been on the HUD approved broker list for a coupe years now. To purchase a HUD home buyers should only use an agent that #1 has access to them (99% of agents don’t and if they don’t have access you won’t be able to see the home anyway.) and #2 understands the electronic bidding process of them. Either way I like this home a lot for the price/ location/ and the fact you as a buyer probably could even buy it for less then the $139,500 asking price. (And Yes the picture is the picture of the actual HUD home for sale in Rancho Sahuarita currently.)