We have created a series of articles about the upcoming HUD home auction being held at the Marriott Desert Ridge Resort on March 26th, 2011. This post goes over what you need to do to be ready for the auction. Another post offers answers to frequently asked questions about the auction.
GUIDELINES FOR PREPARING FOR THE PHOENIX HUD HOME AUCTION ON MARCH 26, 2011
- Read the Urban Team article on Frequently Ask Questions About the HUD home auction.
- Contact a lender to get your pre approval letter. This letter is required if you want to bid on a home. We recommend Judy Giel with MetLife Home Loans. She is a senior person at MetLife and very good at her job. Judy can be reached at firstname.lastname@example.org or https://lo.mlhl.com/judithgiel/index.html.
- Go to the HUD Auction Web Site and decide on which homes are of interest to you. The homes on the auction are all over the Greater Phoenix area so you’ll need to look and see if any are in areas you would like to live. Then you’ll nee to decide if any of them have the features and amenities you want. There are about 150 homes for sale at this auction and hopefully a few of them are right for you.
- View the homes you feel might work for you. The homes will be open for viewing on Saturday & Sunday, March 19th and 20th from 11:00 am to 3:00 pm only. HUD would like your Realtor to join you as you look at the homes and offer his or her thoughts and opinions.
- Choose and contact the Realtor you want to work with and represent you at the auction. Part of the auction requirement is that you are professionally represented by a licensed real estate agent. Naturally, we would love to represent you at the auction. We bring over 20 years experience to the playing field and our company, Realty Executives, has the highest rankings in Arizona for nearly 40 years. . Enough of the sales pitch, you can learn more about us on the About The Urban Team Page of the Realty Executives site.
- If you decide you want to bid on a property you will need a Cashiers Check for $1000.00. The check must be made payable to both HUD and yourself. For example, the cashiers check would be made payable to HUD and John Smith. Make sure it is a Cashiers Check… other forms of payment will not be accepted. HUD will verify your check prior to bidding.
- Set up a meet time with your realtor for the actual auction. Make sure and allow enough time to register and be ready when the bidding begins at 1:00 pm.
- The auction will be at the JW Marriott Desert Ridge Resort. The JW Marriot is located west of Tatum Blvd. and north of the 101 freeway in north Phoenix. There will be a lot of signs on the property directing you to the HUD house auction.
Make sure and bring:
- Your Cashiers Check made payable to HUD and you.
- Your Pre-Approval Letter from your lender.
- A list of homes you would like to bid on.
- Your License or State ID.