LEGALLY BUY A HOME FOR HALF PRICE

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Real Estate Agent with Re/Max Professional Associates 74203

How the heck do you do that?  Its called the "Good Neighbor Next Door" program through HUD.  The bottom line is, if you qualify you only pay 50% of the appraised "as is" value.  If the property appraises at $150,000 you only pay $75,000.  You may also qualify for a FHA loan with only $100 down.  Talk about a zero down mortgage program.  Not only that but you may finance all closing costs, repairs, improvements, appliances, etc.  Talk about winning the lottery!

So who qualifies?  All participants must be employed full time by a federal, state, county, municipal government, Indian tribal government, division of local government or public/private school.  Wow, that was a mouthful.  You cannot own a home now or in the last year.

Law enforcement officers can only buy in the boundaries of their authority to make arrests.  School teachers can only buy in the area that the school district services.  Firefighters and EMT's must be employed full time.  They are restricted to buying in areas served by their employer.

Lots of hoops to jump through but why not get involved?  It isn't easy but the financial benefits for the buyer are huge.

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Rainmaker
221,892
Bernadine Hunter, SFR, ACRE
Keller Williams Greater Columbus Realty - Columbus, OH
"Finding Solution to Your Real Estate Needs"

This is a first for me. It's amazing how little the government does to get the word out about programs that benefit the consumer.

Dec 01, 2010 07:57 AM #1
Rainmaker
1,092,000
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Bernadine,

Isn't so sad how money for programs like this are hidden and poorly communicated.  No good deed goes unpunished when it comes to our government:)

Dec 01, 2010 11:45 PM #2
Rainmaker
637,012
Sheila Newton Team -- Anderson & Greenville SC Real Estate
Berkshire Hathaway HomeServices - C. Dan Joyner - Anderson, SC
25 years experience -Residential Real Estate Sales

wow.. thanks for the info.. I have never heard of that.. but sounds like it is worth the hoops!!!

Dec 03, 2010 12:04 AM #3
Rainmaker
1,092,000
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Sheila Newton Team,

If you are working with those buyers who qualify, it is well worth the work.

Dec 03, 2010 07:31 AM #4
Rainmaker
399,705
Kathryn Acciari
RE/MAX Professional Associates, with offices in Sturbridge, Charlton, Auburn, Spencer, and Shrewsbury - Sturbridge, MA
Realtor - CDPE, CIAS, Sturbridge MA Real Estate

Buyers have so many options these days, as long as their credit standing is solid.  This is another amazing opportunity for the public servants.

Dec 09, 2010 01:07 PM #5
Rainmaker
1,092,000
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi Kathryn,

It is amazing the choices buyers have.  Good time to buy, tough time to sell.

 

Dec 10, 2010 05:04 PM #6
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Rainmaker
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Conrad Allen

Webster, Ma, Realtor
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