HUD event for potential Kingman home buyers Saturday

KINGMAN - If you're in the market for a new home and would like to save thousands of dollars on your purchase, then this weekend's Kingman/Golden Valley Association of Realtors "What does HUD have for you?" event may help you out.

The event kicks off at 1 p.m. Saturday at 1923 Kino Ave. and is absolutely free.

U.S. Housing and Urban Development homes are one to four unit residential properties acquired by HUD as a result of a defaulted mortgage that is insured by the Federal Housing Administration. HUD becomes the property owner and offers it for sale to recover the loss on the defaulted claim, according to HUD.Gov.

"HUD homes are listed at the appraised value or less," said Dawn Brannies, Kingman/Golden Valley Association of Realtors member. "And HUD will pay up to 3 percent of the closing cost."

A home often doesn't get appraised until someone says they want to purchase it, Brannies said. With HUD, the buyer will know exactly what the home is worth beforehand.

HUD approved lenders will be on site Saturday, and Sandy Hubka and Brannies will present all the information. To RSVP or get more information call Brannies at (928) 753-3706 or Hubka at (928) 753-1200.