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Where can you find foreclosed HUD homes?
The U.S. Department of Housing and Urban Development acquires properties from lenders who foreclose on mortgages insured by HUD. These properties are available for sale to both homeowner-occupants and investors.
You can only buy HUD-owned properties through a licensed real estate broker, whose commission will be paid by HUD.
Down payments vary depending on whether the property is eligible for FHA insurance. If not, payments range 5 to 20 percent. When the property is FHA-insured, the down payment can go much lower. Each accepted offer must be accompanied by an "earnest money" deposit equal to 5 percent of the bid price not to exceed $2,000, but not less than $500.
You should be aware that HUD homes are sold "as is," meaning limited repairs have been made but no structural or mechanical warranties are implied.
Tips and Questions
Can I get a HUD home for as little as $100 down?
How does a home go into foreclosure?
Are foreclosures an option?
What are problems buying foreclosures?
What types of foreclosure are there?
What happens at a trustee sale?
How do you get financing for a foreclosure?
How do you find government-repossessed homes?
Where do I learn about HUD foreclosures?
Where can you find foreclosures?
Do you have to buy HUD homes through a realty agent?
What about buying a foreclosure "as is"?
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Carlos M. Aguilar
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Call or Email Carlos
Carlos M. Aguilar
Axia Real Estate Group, Inc.
1450 Frazee Rd. Suite 301
San Diego, CA 92108
(888) 317-1496
carlos [at] teamaguilar.com
