Robin Young

Great question! HUD homes are sold through HUD-registered real estate brokers. The easiest way to find one is to search the official HUD HomeStore for a broker in your area who holds an active HUD NAID (that's the credential required to submit bids). I can also connect you with a local HUD-registered agent and walk you through financing and the bid process. How to actually find a HUD foreclosure agent (step-by-step) Go to HUD HomeStore (HUDHomestore.gov). That's the official portal for HUD-owned homes. Click " Find a Broker.aEUR? Enter city/ZIP/state. Filter to " ActiveaEUR? under NAID statusaEUR"only active NAIDs can submit bids. Check experience. Open a few profiles and look for: Recent HUD bids/closings Familiarity with Owner-Occupant Priority periods Knowledge of FHA 203(k) or rehab-friendly financing Verify coverage + access. Confirm they can show HUD homes in your target cities and they're set up with local lockbox/Vendor Mgmt (for access). Interview fast. (3 questions) " How many HUD transactions have you closed in the last 12"24 months?aEUR? " What's your process for the Owner-Occupant vs. Investor bid windows?aEUR? " Which lenders you trust for FHA 203(k) or repairs-escrow?aEUR? Optional safety net: If the buyer needs education first, point them to a HUD-approved housing counselor (nonprofit coaching on budgets/loans). Then loop back to the agent search.

Totally get it aEUR" not every lender truly works with first-time buyer programs. The best way is to start with official sources and filter for lenders who are approved for the programs you want. In California, I can point you to CalHFA-approved loan officers, plus I'll verify they regularly fund FHA, HomeReady/Home Possible, and local down-payment assistance. I'll also connect you with a HUD-approved housing counselor for unbiased guidance. If you share your price range and city/ZIP, I'll shortlist a few lenders and make warm introductions Your quick playbook (California-focused but adaptable anywhere) Start with your state HFA's approved list (in CA: CalHFA). Use CalHFA's " Find a Loan OfficeraEUR? and " Approved LendersaEUR? tools. Shortlist loan officers who are active on MyHome/CalPLUS (signals real experience). CalHFA +1 Cross-check affordable conventional options (for pricing and income limits). Fannie Mae HomeReady: verify property income eligibility via the AMI lookup. Fannie Mae Single-Family Freddie Mac Home Possible: confirm 80% AMI limit using their eligibility map. Freddie Mac +1 Layer in down-payment assistance (DPA) lookups. Use Down Payment Resource (also embedded in Fannie Mae's DPA tool) to see city/county programs you can pair with your first mortgage. Down Payment Resource +1 If shopping rural or edge-of-town areas, check USDA lenders. USDA publishes active lenders and even a current " top lendersaEUR? PDF by volume (handy proxy for who actually closes these). Rural Development +1 Need unbiased guidance first? Add a HUD-approved housing counselor. Find one via HUD or CFPB's official locator; they can help compare programs and prep you for lender calls. HUD Exchange +1 What to ask a lender (script) Use this verbatim if you like: " How many CalHFA / MyHome / CalPLUS loans did your team close in the past 12 months?aEUR? (I'm looking for recent, local success.) CalHFA +1 " Do you regularly originate HomeReady and Home Possible? Please confirm my income fits the AMI rules for the property area.aEUR? Fannie Mae Single-Family +1 " Which down-payment or closing-cost assistance programs do you pair most often in [CITY/COUNTY], and what are the typical timelines?aEUR? Down Payment Resource +1 " If the home is in a USDA-eligible area, are you an active USDA lender?aEUR? Rural Development Green flags vs. red flags Green flags Can name specific local DPA programs and CalHFA options off the top of their head. CalHFA +1 Screens your address through AMI/DPA tools during the call. Fannie Mae Single-Family +2 Freddie Mac +2 Explains education certificate steps (often required) and realistic timelines. Red flags " We don't really do those, but we can maybe figure it out.aEUR? (Translation: you'll be their test case.) Won't quote program-specific fees/MI or can't state an exact DPA pairing process. Tries to steer you away from programs without checking income/location eligibility first. Common program requirements (set expectations) Income limits & AMI caps (varies by address/program). Fannie Mae Single-Family +1 Homebuyer education certificate for many DPA/HFA loans. (HUD/CFPB counselors can help.) HUD Exchange +1 Owner-occupancy and CLTV/LTV caps when stacking assistance (typical with HFA + DPA). CalHFA Want me to do the legwork? Shoot me the target city/ZIP, price range, and household income (roughly), and I'll: Pull CalHFA-approved loan officers who actively close these loans, Verify HomeReady/Home Possible eligibility for the area, Map available local DPA options, and Draft a warm intro email from you to the top 2"3 lenders.

Usually yesaEUR"with the right loan type and paperwork. Here's the plain-English version you can share: Permanent buydown (discount points): A family member can give you gift funds that your lender applies to discount points at closing. This is allowed on most conventional (Fannie/Freddie) loans for primary homes and second homes (not investments), as long as it's a true gift (no pay-back) and you provide a gift letter + transfer docs. Fannie Mae Selling Guide Temporary buydown (e.g., 2-1, 3-2-1): These are typically funded by the seller, builder, lender, or other third party under a written buydown agreement. A practical path if Grandma wants to help: she gifts you the funds, and your lender uses them at closing per their buydown program rules. (Exact allowance can vary by lender " overlays.aEUR?) Fannie Mae Selling Guide FHA/USDA: Family gifts can cover closing costs (including discount points) if properly documented. FHA also requires gifts to be bona fide (no repayment). USDA guidance likewise allows discount points and clarifies gift-fund documentation. FHA.com +2 Rural Development +2 Seller credits vs. family gifts: Seller/builder/agent credits are capped by program rules (the " interested-party contributionaEUR? limits), but family gifts aren't the same thing and follow the gift-fund rules instead. Fannie Mae Selling Guide +1 What to do next (5-minute game plan) Tell the lender you want to use gift funds for a rate buydown and ask which documentation they need (gift letter template, proof of donor ability/transfer). Fannie Mae Selling Guide Ask whether their temporary buydown program can be funded via your gifted funds at closing (some lenders allow it, some only permit seller/lender funding). Fannie Mae Selling Guide If you're comparing FHA/USDA/conventional, have them price both points (permanent buydown) and a temporary buydown so you can see which saves more based on how long you'll keep the loan. (Rules permit both with the right structure.) Fannie Mae Selling Guide +1 If you want, I'll draft a quick email you can send to your lender that asks exactly the right questions and checks all the boxesaEUR"zero jargon, maximum savings.

You can cancelaEUR"check the agreement's termination clause, give written notice to the brokerage (not just the agent), and request a signed Mutual Release. Watch for any protection period or fees (like reimbursement for reports). If the brokerage won't cooperate, escalate to the office manager/broker, then your local REALTORA(R) association's ombudsman/mediation. I can walk you through it and provide the exact email to send.aEUR? Step-by-step (what to actually do) Find the termination clause. Look for: term dates, " at-willaEUR? termination rights, required notice method (email/certified mail), any termination fee or reimbursement language, and the protection/aEUR?tailaEUR? period. Decide your timing. If you plan to write on a home soon, it's safer to cancel first, then tour/write with the new agent to avoid procuring-cause headaches (who " earnedaEUR? the commission). Send written notice to the brokerage. Address it to the Broker of Record/Office Manager with your agent cc'd. Ask for: Immediate termination, A signed Mutual Cancellation/Release, and Waiver or clear list of any homes covered by a protection period (so you don't get billed later). Get the paperwork back. Don't resume home shopping with a new agent until you have written confirmation (or at least a time-stamped notice plus delivery receipt). Settle any small stuff. If the contract says you'll reimburse out-of-pocket costs (e.g., a paid report you asked for), square that and get the zero-balance in writing. If they refuse or disappear: Escalate to the broker/manager. Ombudsman/mediation via your local REALTORA(R) association (fast, free/low-cost). As a last resort, state real estate regulator complaint. Copy-paste email template Subject: Request to Terminate Buyer Representation Agreement Hello [Broker's Name] and [Agent's Name], I'm requesting to terminate my Buyer Representation Agreement effective immediately. Please send a Mutual Cancellation/Release confirming: The agreement is terminated, Any protection period is waived or limited to the attached list of properties (please provide that list), and I owe no further fees other than any documented, pre-authorized out-of-pocket costs (if applicable, please itemize). Please reply with the release for e-signature today. Thank you, [Your Name] [Email] | [Phone] Things to watch (so you don't pay twice) Protection period/tail: If you buy a home first shown by the old agent during this window, they may claim payment. Ask for a waiver or a narrow list of addresses. Touring before canceling: Touring or negotiating with a new agent before termination can create procuring-cause disputes. Text a? notice (sometimes): If the contract requires email or certified mail, follow that to the letter.

Great questionaEUR" short answer: there's no hard limit on how many times you can refinance, but each loan type has " seasoningaEUR? rules (how long you must wait) and you should only refi when the math pencils out. Typical waiting periods (owner-occupied loans) Conventional (Fannie/Freddie) Rate/term (aka limited cash-out): generally no minimum wait in the Selling Guides (lenders may add overlays). Fannie Mae Selling Guide Cash-out: at least 6 months on title before disbursement (with a few exceptions like inheritance/divorce awards). Fannie Mae Selling Guide FHA Streamline (refi of an existing FHA loan to lower rate/payment): must have made 6 payments, 6 months since first payment due date, and 210 days since the prior closing. FDIC,VAIRRRL (streamline) & cash-out: law and VA guidance require 210 days from the first payment due date and at least 6 consecutive payments. BenefitsStreamlined / Streamlined-Assist: loan generally must be at least 12 months old with a run of on-time payments; some references cite 6"12 months depending on program variantaEUR"expect ~12 months as the conservative rule. Rural Development Reality check before you refi again Costs vs. savings: Calculate break-even (closing costs A. monthly savings). If you won't keep the loan past break-even, don't do it (even if the rate is shiny). Prepayment penalties: Rare on primary-residence QM loans, but always confirm " no prepay penaltyaEUR? in your current note. Lender overlays & EPOs: Even if the agency allows a quick refi, some lenders won't touch loans refinanced within ~6 months due to early-payoff risk. Appraisal/equity: Conventional refis usually price best with a?JPY20% equity; program rules and pricing adjust below that. Program eligibility: Government streamlines often require a net tangible benefit (lower rate/payment, recoup window, etc.). VA in particular enforces this. Benefits Bottom line You can refinance again whenever you meet the program's wait rules and the math makes sense. If you tell me the current loan type, first-payment date, and whether you're eyeing cash-out, I'll map your earliest eligible date for each refi path and do a quick break-even so you know if it's worth itaEUR"or just mortgage FOMO.

Great questionaEUR"and you're not the first to wonder if you should " tour-guideaEUR? the appraiser like it's an open house. Short answer: as the buyer, you typically do not attend the appraisal. Here's the California-practical breakdown I can share with you. The quick take It's not a showing. The appraisal is ordered by the lender to confirm value for the loan. The appraiser needs quiet, independent time. Who's there? Usually the listing agent (or seller) provides access. I coordinate details from the buyer side and make sure the appraiser has what they need through the proper channels. Should you walk around with them? No need. Shadowing can feel like pressure and isn't helpful. Think of it like a home inspection's opposite: you went deep; now they work independently. What I do for you (behind the scenes) I make sure the appraiser gets a clean info packetaEUR"usually via the listing side or lender portalaEUR"including: Executed purchase contract (terms, credits, concessions) Recent, relevant comps and a brief market note (why our comp set makes sense) And information on Pending Sales as well. Upgrade/permit highlights the seller provided (roof, HVAC, kitchen, solar details/lease, ADU, etc.) HOA facts (dues, amenities, special assessments), if applicable Access notes (detached garage, attic/crawlspace, outbuildings) to avoid missed areas that could affect value. After the appraisal Timeline: The report goes back to the lender first. Your loan officer provides results. If value comes in low: We have options. Common paths: Request a reconsideration of value with stronger comps/clarifications. Renegotiate price or credits with the seller. Adjust loan structure (LTV/DP), or in some cases consider a second opinion depending on loan type and lender policy. I hope you found this as useful information.

Understanding the Right of First Refusal (ROFR) in Real Estate If you've ever heard the term "Right of First Refusal" and wondered what it actually means, you're not alone. It's a common clause in real estate agreements, but it's often misunderstood. Let's break it down in straightforward terms. What is a Right of First Refusal? Think of ROFR as a "first-dibs to match" pass. It doesn't force the property owner to sell, and it doesn't guarantee the holder will get to purchase the property. However, if the owner does decide to sell or receives an acceptable offer from someone else, the ROFR holder gets the first opportunity to buy on those same terms. In Plain English A chance to buy, not a command to sell. The owner maintains full control and can choose to keep their property indefinitely. But if they do decide to sell, they're required to offer the same deal to the ROFR holder before accepting an offer from anyone else. Match the terms. Whatever a third-party buyer offeredaEUR"the price, timeline, contingencies, and all other conditionsaEUR"must be presented to the ROFR holder. They then have a specific time window (defined in the agreement) to accept or decline. Contract-driven. Everything about how a ROFR works comes from the written agreement and applicable state law. This includes what triggers the ROFR, how notice must be given, and how long the holder has to respond. ROFR vs. Other Purchase Rights It's helpful to understand how ROFR differs from similar concepts: Right of First Refusal (ROFR): First chance to match a legitimate offer from another buyer. Right of First Offer (ROFO): The holder gets to make the first offer before the owner even markets the property to others. Option to Purchase: A much stronger right that allows purchase at a predetermined price and terms within a set timeframe, regardless of whether the owner wants to sell. Common Questions About ROFR If ROFR is in a lease, can the tenant buy whenever they want? Not automatically. A ROFR clause in a lease agreement doesn't give the tenant the power to purchase the property at will. It only becomes active if the owner decides to sell or accepts an offer that triggers the ROFR provision. When triggered, the owner must formally notify the tenant and present the same terms offered by the third party. The tenant must then accept within the contractual deadline and proceed through the normal purchase processaEUR"earnest money deposit, inspections, financing arrangements, and closing. What happens if the owner passes away? This is an important question that many people wonder about. Here's how it typically works: Inheritance and ROFR are separate matters. When a property owner passes away, their heirs (such as children) generally inherit the property subject to all existing agreementsaEUR"including a valid ROFR. The right doesn't simply disappear because of the owner's death. If heirs keep the property: There's no sale, so the ROFR isn't triggered. If heirs decide to sell: The ROFR must still be honored. The heirs are obligated to provide notice to the ROFR holder and give them the same opportunity to match any offer, exactly as outlined in the original contract. Probate considerations: The estate settlement process may add procedural steps, and a court or personal representative might need to approve the sale. However, the ROFR remains in effect unless the agreement specifically states otherwise. How ROFR Works: Step-by-Step Understanding the process helps both parties know what to expect: Step 1 " Trigger: The owner decides to sell or receives a third-party offer (depending on how the contract is written). Step 2 " Notice: The owner provides written notice to the ROFR holder with complete details of all terms and conditions. Step 3 " Decision window: The ROFR holder has the agreed-upon timeframe to either accept or decline the offer. Step 4 " If accepted: Both parties sign a purchase agreement based on those terms and proceed to closing. Step 5 " If declined or time expires: The owner is free to sell to the third party on substantially the same terms. Many contracts require the owner to re-offer to the ROFR holder if the terms are later improved or changed significantly. Practical Tips for Both Parties Whether you hold a ROFR or you're a property owner with one attached to your property, keep these points in mind: Read the document carefully. Small clauses can have big implications. Many ROFR agreements exclude certain transactions from triggering the right, such as transfers to family members, gifts, or refinancing transactions. Respect the deadlines. Time limits in ROFR agreements are typically strict and enforceable. Missing a deadline can result in permanently waiving your right to purchase. Maintain proper documentation. Always use the written notice procedures required by your agreement. If you're a ROFR holder, consider recording a memorandum against the property title if your attorney advises it for protection. Consult professionals. Real estate laws vary by state, and the specific language in your agreement matters greatly. A qualified real estate attorney can provide guidance tailored to your situation and local regulations. The Bottom Line A Right of First Refusal gives you the first opportunity to match a genuine offer if the property owner decides to sell. It's important to understand what it does and doesn't do: It does NOT force the owner to sell their property It does NOT automatically transfer the property to you It DOES give you priority if and when the owner chooses to sell It DOES survive the owner's death and must be honored by heirs who decide to sell Think of ROFR as a protective measure that ensures you won't be blindsided if a property you care about comes up for sale. It keeps you in the game without forcing anyone's hand. If you have a ROFR or are considering entering into an agreement that includes one, take the time to understand exactly how it's structured and what your rights and obligations are. With the right knowledge and professional guidance, a ROFR can be a valuable tool in your real estate strategy. This article is for informational purposes only and should not be considered legal advice. Please consult with a qualified real estate attorney regarding your specific situation.