Please join us for this informational seminar on Successfully Selling HUD Homes! HUD will typically change the price on HUD homes every 35 to 50 days a home is actively on the market. Other HUD homes are available for half price to policeman, firefighters, teachers and paramedics. You can preview and then submit bids on HUD homes only through HUD-approved real estate brokers.
But not every foreclosed home falls into the category of government foreclosures or HUD foreclosures. HUD Homes are 1 to 4 unit residential properties acquired by HUD as a result of a foreclosure on an FHA-insured mortgage The condition of HUD foreclosures can vary substantially.
In reality, HUD is the administrative agency that oversees, and is responsible for, a number of federal housing agencies and programs including the Federal Housing Administration (FHA) which insures home loans in specific qualifying areas of the country from default.
Regardless of whether the property is being financed with an FHA insured mortgage, HUD does not guarantee or warrant that the property is free of visible or hidden defects, termite damage, lead based paint, or any other condition that may render the property uninhabitable or otherwise un-useable.
Our HUD properties are mostly in the Buffalo area as well as many of the surrounding areas of Western New York. Unlike the procedure for single-family to fourplex properties, HUD likes to sell the multi-family properties directly through their Property Disposition Department in Washington, D.C.