BID GOVERNMENT FORECLOSED HOMES PROFITABLY
Beat the competition – Be better informed –
First to know – Don’t lose bids – Stay up to date on vital info!
Whether you are a real estate Rehabber, Flipper, Investor or Realtor HUDSnag is for you! Fast, up to date information with quick alerts on upcoming government sales of foreclosed HUD homes in your area via email every single morning. Beat out your competition by getting your bid in early – don’t lose out on that great buy because you didn’t know all this valuable information. All this in one place and easy to read. Seriously, you need this – read on!
- Daily morning updates for the county(s) you request of all foreclosed homes currently for sale before Noon.
- Updates during the day if changes occur or homes are added.
- Lists sorted by State and County for easy organizing.
- Color Picture of all home(s) in the counties you select (clickable for enlarging and more info)
- Map of each home location (clickable for enlarging and more info)
- Asking price, opening bid, auditor value, average rehab cost, estimated sales price, the property parcel id number, county, state, status of sale and more to help you decide if this deal is right for you.
- RED ALERTS when property changes to Extended, Bid Reduction, Ready to Bid status
With HUDSnag you can quickly pick out the homes you are interested in. Where else can you find all this valuable information at a glance? Don’t waste time driving all the way out only to find it unacceptable. Time is money as you well know. With HUDSnag better buying decisions equal better profits! By providing this information in one place, you can look at the list, go to the county you are interested in and quickly determine if the home is in an area you are interested in, if the home is being offered as Exclusive (home owners only) Lottery (government and non profits only) or Extended (investors). Here is a breakdown and some ideas:
- Number above picture is Case No., then county, then asking price, then either Extended, Exclusive or Lottery. You are only interested in “Extended”. However, if you like this home ..you want to have actually looked at it when it is Exclusive in order to know whether you want to bid or not because you never know when it will turn Extended and you need to be ready to place your bid quickly, usually within hours
- PID = Property Parcel or ID number. Then a short description of rooms. Then you see “Added” which is when it was added to the system. DOM (Days on Market) that would be a good indicator that price will drop, perhaps several times so you need to watch that in case it is something you like. There is no rhyme or reason why a home sits for days, it is just a slow government process. But be sure to closely look at home and try to determine why it stayed on the market for so long without a sale or successful bid, is there something wrong or rehab too expensive.
- The sentence below the address starts “If ARV (After Repaired Value)” telling you the estimated value as drawn from multiple sources. Then Rhb (Rehab) gives you an average rehab cost. Some houses will be higher and some lower, but this is the average. Be sure you thoroughly check the house to decide what your rehab costs will be and adjust figures accordingly. AsIsVal (As Is Value) estimates the current value without the rehab. MinBid (Minimum Bid) is the value using the above figures to estimate the Minimum Bid acceptable by HUD at this point in time. Of course, you hope to go lower but we estimate that this figure is the minimum bid needed to win IF the house is in the “Extended” status. Remember bids are taken everyday and can be accepted or rejected by midnight so you need to be ready. Thus when a property is of interest, go see it while it is still in Exclusive or Lottery, evaluate it and then sit back and watch the system for the Red Alert showing it turned Extended and place your bid now.
- Now look to the right column where it shows a Date, status, price and DOM. The top line is the current data. Those below are the historical price or status changes. If it shows Exclu or Lttry you can’t bid yet but keep your eye out as something is happening here. When HUDSNAG sees that things are moving towards all the right figures this section will turn red and have a box around it. This is a Red Alert, you need to seriously look at this house and either bid, pass or rule it out.
- Bids must be done through a realtor or broker (better as might be able to negotiate the commission they receive, remember you will likely relist and buy thru them again) so you will need a realtor who can work with you and quickly in order to get your bid submitted properly and in time. Sometimes you will see several days shown with various changes. Perhaps the house was priced too high, so they lowered price, or no one bid, just keep your eyes on this box and learn to understand what it means. This is how you get the jump on the competition. Be sure you have already seen the house, done your own evaluation and have the realtor lined up so you can bid and win.
These Red Alerts really make a difference, they keep you alerted and able to move quickly. You won’t find this anywhere but HUDSnag. Of course, you can try to find all this information elsewhere but you won’t find it quickly and all in one place plus easy to read. Nor will you find it in your email or phone text daily unless you subscribe to HUDSnag. From what we have showed you, how can you lose? We have given you some “helpful insight” into bidding. Whether you are just starting or been rehabbing for years, HUDSnag will make your life easier and more profitable. Remember this information will come every single morning, 7 days a week so you won’t miss anything important. Doesn’t matter if you are on your vacation, at a seminar, sitting by the pool, in the car or just working in the office – there it is, every single day!