Helpful Tips for Finding a Home
In your search to locate a foreclosed home, it is recommended that you work with a real estate professional to check out available inventory within the city of Phoenix limits.
To be eligible for NSP assistance, the property must meet the following requirements:
- Located within the city of Phoenix limits and program-specific boundaries
- Foreclosed and have changed title
- Home Improvement Program, home is in need of repair and will not pass a HUD Housing Quality Standards (HQS) inspection
Move-In Ready Program Available Inventory
Home Improvement Program Boundaries
Your real estate professional needs to ensure the following four contingencies are included in your purchase contract:
- Homeownership Assistance Program and Home Improvement Program, purchase price is no more than 99 percent of the "as is" appraised value of the property as determined by an appraisal conducted within 60 days prior to closing.
- Property is in compliance with the city of Phoenix Neighborhood Preservation Codes.
- Homeownership Assistance Program, property must pass a HUD Housing Quality Standards (HQS) inspection.
- Lead-based paint inspection required for homes built before January 1978
Among the many options you have, the following links provide foreclosed homes available for sale: - Fannie Mae
- Freddie Mac
- HUD
The city of Phoenix cannot attest to the accuracy of the information provided by linked sites. Linking to a Web site does not constitute an endorsement by the city of Phoenix, any of its employees, the sponsors of the site or the products presented on the site. You may want to work with a real estate professional to locate available properties to consider.
The NSP's customer service advisory representatives can assist you with full details and help you sort through your options.
A complete list of resources is available to assist you through the homebuying process.
Call today to learn more at 602-262-6602 or by e-mail at nsphome@phoenix.gov.