If you have never heard of the Good Neighboorh Next Program HUD offers I am here to provide you the information. HUD offers a 5 day special program on homes that are placed in “lottery program” and certain birders have the ability to bid and purchase the home for a 50% discount of appraised value. This means that you could potentially purchase a $200,000 home for $100,000!!!
So who qualifies for this program
-Teachers grades K-12
-Law enforcement officers
This program also allows for also for potentials buyers to purchase the home for as little as $100 down through FHA financing. I am the listing agent in this area for a majority of these HUD homes that go into the lottery and know about them in advance. All real estate agents can participate as long as they are a HUD registered agent and thier broker has a valid NAID number.
This is a great program and offers a huge discount for certain homeowners. Please be advised that there are many third party companies that are fradulently representing affliation with this program locally. At this time Long and Foster is one of the only brokerages that is a HUD approved listing broker in the Wicomico county/Salisbury area. We do the inspections pre-lottery and have intimate knowledge of the program. If you are a home buyer or agent and would like more information on this program, contact me today for more details!