A HUD home is a one to four unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions), you may buy a HUD home. HUD homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.
All properties available for purchase by the public are offered for sale at Internet listing sites maintained by management companies under contract to HUD. We are a HUD registered real estate brokerage and can submit an offer and contract to purchase on your behalf. HUD even pays the real estate commission!
Properties in designated areas are available at a reduced sales price to police officers, teachers, firefighters, emergency medical technicians, non-profits and local governments. Learn more about these Good Neighbor initiatives.
We encourage you to get an inspection after your offer is accepted. All HUD homes are sold AS-IS, without warranty. HUD will not make repairs nor pay to correct any problems.
Although HUD does not offer financing directly, some of these homes qualify for FHA-insured loans.
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