Teachers, Fire Fighters, Police Officers, You May be Able to Purchase your Home for Half of the Posted Price!
I'll bet you did not know that. Quite often, word of this type of
incentive does not reach the population at large, in spite of the efforts of agencies and not-for-profits. Programs offering great assistance to home-buyers are not always publicized successfuly! The intent of this particular program ("Good Neighbor Program") is to revitalize select neighborhoods through attracting qualified buyers who would make good neighbors. The incentive is very substantial! A Police officer with arrest authority, or a teacher from Pre-school to 12th grade, for instance, may be able to get 50% discount off HUD property prices. A buyer has to commit to live in the property as a sole home for at least 36 months.
You do not need to be a first time home-buyer, though you would not qualify if you owned any residential property in the year prior to the submission of your offer.
HUD properties are houses of various types that are usually distressed and are re-appropriated for sale at prices less than other properties on the market. Often a property is at an advanced state of disrepair, and may require the buyer to apply for a 203K mortgage loan, designed to finance both the purchase and the repairs; it may even be a condition for getting the purchase approved.
Please contact me at aelroy@hobnjre.com for more detail.
Our agency, Exit on the Hudson Realty, is one of the few brokerages in the NJ Hudson area authorized by HUD to submit offers. We are in position to take you through the process from A-Z for any HUD property in NJ, NY, and PA. We also offer referal fees for Realtors on HUD home sales.
If you know law enforcement officers, fire fighters, or teachers, let them know about this opportunity, you'll make them happy.