If you have always dreamed of owning a home, the Department of Housing and Urban Development can help you. As discussed earlier, if real estate agents can bid on and buy HUD homes at an unfair advantage to the home buyer and investor, then it stands to reason that many of the nicer properties are bought by these agents. HUD Homes are offered to the public on websites that are maintained by HUD approved companies.
HUD does not guarantee the condition of any property, FHA-insurable or not, nor whether it meets local codes or zoning requirements. In the case of HUD homes there are no negotiations, no haggling, or offer and counter-offers. If HUD receives a bid that is close to what they need out of the home, they may counter a buyer.
A HUD home is a 1-to-4 unit residential property acquired by HUD (Department of Housing and Urban …