Distressed properties or sales usually mean foreclosure or short sale homes. Use our HUD Home experties to help you win in the bidding process for HUD homes. Purchasing from HUD is different from purchasing from any other kind of owner, including a bank. Since the new owner will be responsible for making needed repairs, HUD strongly urges every potential homebuyer to get an inspection from a licensed professional home inspector prior to submitting an offer to purchase.
In other parts of the country, I have seen investors buy HUD homes for 80 percent of the list price in the first month. Prices and financing options often make a HUD home more affordable than other homes for sale. The real estate broker must be registered with HUD to make an offer and submit a contract on HUD owned real estate.
HUD homes are sold as-is The new owner is responsible for …