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Buying a HUD house in Dayton Ohio

Thinking of buying a HUD house?

Dayton Ohio Foreclosure

Dayton, Ohio real estate can be a great buy…

If you are looking to buy a home in the greater Dayton Ohio area then buying a HUD home or foreclosure may be something you want to consider.  This is not something that you should do without thinking it through before you buy however.  Buying a HUD home or foreclosure is not something that you should just wake up on day and say I’m going to buy a HUD home or foreclosure in the Dayton area today… Buying a foreclosure or HUD house is different than buying a “regular” home…

Pro’s of buying a HUD house or Bank owned / REO in the Dayton area.

  • You can save money on the purchase price.
  • Wait… I’m still thinking….
  • Yea… guess that’s about it???

Con’s of buying a HUD house in the Dayton area.

stress

  • Most likely the house will need some work and repair before you will want to move in.
  • The process is more complicated and confusing then a “regular” deal…
  • You may have to pay to have the house de-winterize and re-winterized to do inspections.
  • You may have to get the utilities turned on at your expense to do inspections.  Generally HUD will not make repairs that are discovered by your inspections.
  • There can be title issues that will delay closing.

So, should you buy a HUD house in the Dayton area at all?

Well, I think you should consider buying a HUD house or foreclosure if you are looking to buy a house in the Dayton area.  They can be a great deal.  What we tell our clients is that when dealing with HUD and bank owned/REO/foreclosures is that they are most likely going to get a deal… with that deal comes headache…  The bank or the government does NOT care about your deadlines… They will however penalize you if you miss one of their deadlines…

So, yes buy one but go into it with YOUR eyes open… understand that with a “deal” comes some trouble too.

Good luck and remember we are certified experts in dealing with HUD and bank owned homes or REO.  Please feel free to call us for help.  We are happy to work with you.



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