Cleveland Real Estate - 03/21/2009 - HUD Homes Updates - www.cjharrington.com

Posted By:

CJ Harrington

Keller Williams Realty

cjharrington.crs@gmail.com

www.cjharrington.com

440.336.0612

HUD HOMES SALES INCENTIVES for OHIO Owner/Occupant Purchasers ONLY

$100 Down Payment Finance Option (FHA financing only) In item 4 of the HUD-9548 Sales Contract in the down payment blank please put the following statement: "$100." This is to notify the lender that the intent is to use this incentive, assuming the purchaser qualifies for the FHA mortgage.
$2,500 Sales Incentive (for properties with a purchase price $25,000 or greater)
$500 Broker bonus (for properties with a purchase price of $25,000 or greater)

Beginning October 1st, 2008 all owner occupants (excluding HUD approved non-profit organizations, Good Neighbor Next Door participants, and units of local government) will receive $2,500 at closing for properties with a purchase price of $25,000 or more.
The $2,500 sales incentive can be used for the following items (for offers accepted after 10/1/08):


· Closing Costs

· Tax Pro-rations

· Repairs to the home

· Replacement of items in the home

· Pay down the unpaid principal balance of an FHA insured Mortgage


If the funds are used for repair or replacement of items, the incentive will be deposited in a repair escrow account for FHA financed sales or reimbursed upon submission of receipts.

The $100 down payment financing is available on most properties through FHA approved lenders. Please note that the $100 down offer applies if the purchase price is less than or equal to the appraised value of the property. If the purchase price is greater than the appraised value, the purchaser may obtain a new FHA appraisal to support the higher mortgage amount or must pay cash in the amount of the difference between the appraisal and the purchase price less $100. For a copy of the flyer please click here.




Please visit our website at www.cjharrington.com for FREE information.

-Buy a Home With Little Money Down
-FREE Seller Reports-Sell Your Home Fast And For Top Dollar
-FREE Buyer Reports-Get The Most Home For Your Money
-FREE Home Value - Report & Evaluation
-Find Out What The House Down The Street Sold For
-And much more...