Prospective buyers and investors in Watertown, Connecticut have been showing increased interest in the distressed property market. This comes to no surprise, as foreclosures, short sale and REO homes offer buyers a chance to purchase a home at an attractive discount, and increases the potential to buy a bigger, more expensive or higher quality property. But while this distressed real estate has become a fairly routine part of the market, there is still much to learn about the market of Watertown, CT HUD homes.
HUD homes are unique to distressed properties, as they are not managed by private lending institutions, but rather by the federal government. HUD is, in fact, short for the U.S. Department of Housing and Urban Planning, and has acquired a collection of Watertown CT foreclosures that were originally backed by FHA loans. Otherwise, they are much like any other real estate owned (REO) property and offer buyers a chance to purchase a discounted home with advantages such as being able to inspect the property and apply for a mortgage. And to sweeten the deal, HUD offers incentives such as lower down payments, assistance with closing costs and other government supported programs.
Watertown CT HUD Real Estate
Edite Calabrese, award-winning Watertown Realtor® and distressed property specialist, is your best source for Watertown, CT HUD real estate. She has a deep understanding of the inner workings of these types of transactions, and will identify the HUD property that offers the best short and long term potential as well as manage all the necessary steps to secure it. Partnering with a seasoned professional is the best way to guarantee your success and satisfaction.
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