CASH Realty & Auction offers many different auction services, some of which fall under the category of real estate auctions. The Federal Housing Administration (FHA) is a part of HUD – the part that provides federal mortgage insurance. REO homes are often priced below market value and can be a good investment opportunity for the savvy buyer. When homeowners default on their FHA-insured mortgage, HUD takes ownership of the property.
Some HUD Homes were built just a few years ago, while others are 50+ years old. You need a licensed real estate broker listed with HUD to bid on FHA properties. Under GNND, qualified individuals can purchase HUD homes with as little as $100 down. It is also a felony for investors to make repairs to a HUD home before they buy it or to move anything onto the property before closing.
All buyers MUST be accompanied by a broker or agent when viewing any HUD Home listed for sale. Together we must analyze each home individually to determine the homes market value and if it is a good deal for your situation. HUD designates certain areas as revitalization areas” based on the income of the people living in the area, the number of foreclosures and the portion of the population that actually own their homes.
Office of the Inspector General Hotline – The hotline allows you to report fraud, waste, abuse, or serious mismanagement in HUD or HUD-funded programs from HUD employees, contractors, and the public. There is no penalty to buyers if they mark yes to backup position, and later on decide they don’t want the home if HUD accepts their backup bid.
The bid that meets the acceptable threshold and has the highest net to HUD receives a provisional bid acceptance subject to receipt of all required documents. Follow us on Facebook at Las Vegas HUD Homes to view the most current HUD Homes photo list! There are no representations or warranties, expressed or implied, on any HUD property.