How to Buy a HUD Home in Georgia

1
How to Buy a HUD Home in Georgia

• Presented by
• PEMCO, Ltd.
• Management Contractor to the U.S. Department of
  Housing and Urban Development

2
What is a HUD Home?

• A HUD Home is not low-end housing!
• It is a home acquired as a result of a
  foreclosure on an FHA-insured mortgage
• When this happens, the property is automatically
  acquired by HUD and is offered for sale to the
  public to recover the loss on the mortgagee claim
• HUD Homes greatly vary in price, location and
  condition
• HUD Homes are available for sale in nearly every
  Georgia county

3
Example HUD Home for sale in Georgia TODAY!
4
Who is PEMCO, Ltd.?

• HUDs Marketing and Management Contractor
• HUD out-sources the management of the sale of its
  homes to an asset management company in each
  state
• In Georgia, HUD has contracted PEMCO, Ltd. to
  manage the sale of their homes
• PEMCO, Ltd. then is your single point of contact
  regarding the purchase of a HUD Home

5
Who can purchase a HUD Home?
Anyone!

• Anyone who can get the financing can purchase a
  HUD Home
• You do NOT need to sign up for any special
  programs, or pay any fees, to be able to
  purchase a HUD Home
• Buyers will purchase as either an owner-occupant
  (someone who will be living in the home) or an
  investor (someone who will rent, sell, or not
  live in the home theyve purchased)

6
How Do I Find HUD Homes That are For Sale?

• www.hudpemco.com
• This is HUDs official listing site for all its
  homes for sale in Georgia
• This is a FREE and public-access website
• Do not be fooled into paying money to join
  special groups which let you see HUD Homes for
  sale!

7
How do I purchase a HUD Home?

• Connect with a HUD-Registered Real Estate Agent
• PEMCO is an asset management company, not a real
  estate brokerage PEMCO cannot sell you a home
• Your agent will place a bid on a HUD Home for you
• Find an agent on HUD-PEMCOs listing site or ask
  an agent you are already working with if they are
  HUD-Registered

8
Why buy a HUD Home?

• All properties are offered for sale on a priority
  basis to owner-occupant bidders
• HUD pays closing costs and agent commissions
• All HUD Homes are sold for sale at fair-market
  value
• HUD has several Special Programs
• Homeownership Incentives!!

9
Homeownership Incentives

• Just 100 Down!
• For owner-occupant buyers who purchase a HUD Home
  with FHA Financing
• 100 down takes the place of FHAs standard
  required 3 down payment
• This incentive is available for all HUD
  Properties currently for sale which can be
  purchased with FHA Financing
• No buyer restrictions, side the buyer purchase
  the home as an owner-occupant (someone who will
  live in the home) and the buyer use FHA Financing
  to purchase
• 1,000 Sales Allowance!
• For owner-occupant buyers who go under contract
  on a HUD Home within its first 30 days on market
• 1000 will be presented as a credit at closing

10
Stay Connected!

• PEMCOs buyer-focused e-newsletter
• www.hudpemco.com
• www.hud.gov
• www.fha.gov
• All of the other non-profit and government
  organizations here today!
• DCA, County Housing Authorities, etc.!

11
Information about HUD Homes

• Sold AS IS get a home inspection!
• Take advantage of the Property Condition Report
  (PCR) available on every HUD Listing
• HUD does not provide direct financing on its
  properties, but we encourage you to Think FHA!
• More secure, limits have been raised, special
  programs like the Streamline 203(k) allow for
  Buy and Repair Option

12
Now What?

• The most important thing you can do is connect
  with a knowledgeable and experienced
  HUD-Registered Agent.
• If you have specific questions for PEMCO, Ltd.,
  please call us at 404-995-7111 or email us at
  info_at_pemco-limited.com