ITunes is the world’s easiest way to organize and add to your digital media collection. HUD homes that are for sale can be a great way to purchase your own home or find opportunities for real estate investment properties. Be sure to have us help you know which homes you will need to buy with cash or which homes will qualify for you to buy with a loan.
HUD has very strict owner occupancy restrictions that I explain in detail here On FHA insured HUD homes only owner occupants, non profits and government agencies can bid on HUD Homes. Finance: Check your Credit Report and find a lender willing to arm you with the up-front buying power to bid on HUD homes (hint: can help you find a good lender.
Ask your agent to provide comparable sales for HUD homes because there is no guarantee you will get a break on the price. An owner occupant purchaser is a person who plans to live in the property as their primary residence for at least 1 year, and has not purchased another HUD Home as an owner occupant within the past 2 years.
So just as the financial institutions do when properties come back to them as real-estate owned (REOs), the agency has real estate professionals represent their interest in selling these HUD foreclosures to the public through an established contractual process.
Since HUD is a major mortgage lender, they also have to deal with foreclosures, like any other lender. I have sold many HUD homes to investors, who were able to flip the house or get a great deal on a rental property because they needed a lot of work. First time home-buyer and those choosing to occupy a HUD home may qualify for one of the many HUD incentives, including a $100 down payment program.