Important Info for Investors that are Flipping Homes. HUD has come out with new rules for Buyers wanting an FHA insured mortgage for the purchase of a home that is being 
 “Flipped for proffit”.

For the HUD letter in MS Word - CLICK HERE

For the HUD letter in PDF - CLICK HERE
If you do not have Adobe Acrobat Reader please click on the following link:
 Adobe Acrobat Reader. Please follow the onscreen instructions.

The HUD Home Buying Guide.

Biding Periods:  New HUD Homes come out every Friday.  From that Friday the biding will go as follows: Friday - Tuesday:  Is a simultaneous period for owner occupants to place bids. Wednesday:  If there is an acceptable bid, the winning bid will be posted.   Wednesday - Sunday: If there were no acceptable bids placed during the simultaneous period, then for the following five days, bids will be taken on a "Day to Day" basis from Owner Occupants - Wining Bids will be posted the next business day. Monday (the 11th Day): If there have been no acceptable bids to this date - then bids will be accepted on a "Day to Day" basis from Owner Occupants and Investors, with the winning bid being posted  the following business day.

FYI:   On several pages throughout this site I have provided the link to the site for H.U.D. Homes,  where you can check out their property addresses by marking the city you are interested in.  Their site only provides you with the address, number of bedrooms,  number of baths and the price they are asking.  If you would like further information, such as room sizes, garage size, family room, dining room, etc..., then you will need to contact me at jsturm@mibor.net, ( an E-mail link is always available at the top of the links to the left ), or call me at one of the numbers listed below.  I will be glad to e-mail you a copy of the MLS sheets and show you as many properties as you would like to see.  As well as assisting you in placing a bid on the property that you decide to make your next home or investment property.

Jack R. Sturm

Jack R. Sturm Associate Broker Real Estate Norton 6546 Oaklandon Road Indianapolis, In. 46236 Office Phone: 317-823-6873 Home Phone: 317-823-8675 Voice Mail: 317-302-0869 FAX: 317-823-4393