Buying a HUD home, foreclosure or bank owned property?

We offer the most extensive information online to take advantage of these real estate opportunities.

The process of buying a HUD Home is much different than buying other types of homes. Our site is designed to guide you through the important steps in purchasing real estate from HUD. We also provide you with a wealth of resources, programs, home listings , frequently asked questions and a full glossary of terms. With the sale of a HUD home, there are many things that you need to know:

A HUD home can be purchased by anyone.
 
There are no restrictions as to who can buy a HUD home. While a majority of the available homes may be  affordable, HUD home sales are not a low-income program. Home can be purchased by owner-occupants or investors, subject to a priority timeline established by HUD. HUD has also established special program for teachers and law enforcement officers, allowing them to purchase a home at a substantial discount. 

HUD homes are not given away!

There is misconception that you can buy a HUD home for as little as $1. Not true. HUD homes appraised and offered at market value. A buyer may offer any price they choose, but HUD will only agree to sell if they feel the offer is reasonable. While many of these home may require extensive repairs, price reductions not occur until the home has been on the market for a substantial period of time.

HUD homes are sold "As Is"

"As Is" means that the condition of the home when you see it is what you will be buying. In other words, WHAT YOU SEE IS WHAT YOU GET! You need to be of any adverse conditions of the property. While the condition report and listing codes for the property will give you an idea of what to look for, you are responsible for hiring professional home inspector to protect your interest prior to closing on the home.

Deadlines are important

When you are purchasing a HUD home, dates and timelines are much different than a traditional home purchase. These were established by HUD in the issue of fairness. By enlisting the services of an approved HUD agent and following the buying process rules carefully and your purchase will be a success. This site can be invaluable in getting you started in buying that home today. Utilize our resources, subscribe to our newsletter and check back often for the latest developments occurring in the industry. You'll be glad you did. 
 

top