This is the third weekly installment of my series, Foreclosure Friday. Each issue contains foreclosure tidbits and gives access to foreclosures throughout Mississippi via HUD, VA, Fannie Mae and Freddie Mac.
As I mentioned in my previous posts, when buying a HUD foreclosure, only owner-occupants can bid during the first 10-day bid period. The longer a HUD home remains on the market, the more likely for either a price reduction or for HUD to accept a lesser sales price.
Several of the properties are now listed for ALL BIDDERS, and will be sold to the bidder who submits an acceptable offer that nets HUD the highest dollar figure.
One property, for instance, at 3352 Patterson in Pearl MS, was reduced $7,000, but the bid priority has changed from ALL BIDDERS to Owner-Occupant. If by chance you are an investor wanting to place a bid on this property (or one in a similar scenario), you'll now be restricted until the 10 days have passed.
Some of the properties for sale are shown below. (Screenshot taken 12:01 Friday a.m.)
Remember that foreclosures are sold "as-is" with no repairs and you must be pre-approved before submitted a bid.
Buying a foreclosure can offer a considerable savings, but you must be willing to accept the house with whatever flaws it may have.
If you have questions about any home you find for sale through these sites, or want to know what might be available through the Jackson MLS, let me know how I can assist you.
Singing off until next time, unless you call me!
Written and Published by Pat Starnes REALTOR
Pat specializes in Residential and New Home Sales
Primary Service Area:
Brandon, Pearl, Ridgeland, Flowood, Madison and the Ross Barnett Reservoir area
Pat Starnes, Broker Associate
Front Gate Real Estate, 6700 Old Canton Rd., Suite C
Ridgeland, MS 39157
601-991-2900 - Office
601-278-4513 - Cell
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Are you looking to buy or sell a home in the Brandon MS market? Call me!