Investing in HUD Homes is a Great Deal

Investing in HUD Homes is a great deal

The Housing and Urban Development department (HUD) purchases homes that are insured by Federal Housing Administration and are foreclosed. Then they earn the loss they incurred in foreclosure by selling these houses to the public. HUD uses specific bidding process and those who wish to invest in these homes may bid through their agents. HUD properties are usually sold on lower prices than the market value as they are owned by the government of US. A successive growth is expected in terms of HUD HOMES availability as the loans insured by FHA are becoming quite popular among the buyers who cannot get qualified for any other types of loans. HUD does not deal with homebuyers so in order to buy a HUD HOME you need to get a qualified HUD agent for you who can converse on your behalf.

The employees of HUD and their relatives are eligible to buy HUD HOMES. They must have a written approval from the HUD’s Office Director of Single Family Asset Management to buy HUD-owned single-family property. HUD HOMES are available in broad area neighborhoods and middle-income families can afford these houses. If these homes do not need repair, they are sold at the common prices. One can visit the HUD website and get the details regarding the availability or the bids of the HUD house in any area, as the search option is available on the website. Usually the agents help buyers with the entire procedure including all paper work and the settlement if the offer to bid is accepted is around 30 to 60 days.

The HUD HOMES are firstly made available to only those who wish to live in these houses but if they do not bid on the house then the investors are allowed in the bidding. If the foreclosure houses are not sold out within six months from the purchase, HUD sells them for $1 each to the other government agencies and nonprofit organizations. According to HUD department, the investors are required to have valid Tax Identification Number (TIN) or Social Security Number (SSN) to bid on HUD HOMES.

Investors are also required to submit pre-qualification note from certified licensed lender. The brokers, associate brokers and the associated selling agents need to first register with federal HUD website prior to submitting their bids. There are loads of terms as to who can qualify for buying HUD HOMES so it is always advisable to the investors to thoroughly go through the HUD website and get all possible information.

Any authorized HUD HOMES agent can help you buy or sell these houses. Contact Authorized HUD HOMES agent click here Or go to website: www.SDHUDHOMES.ORG

Financial Available for qualified buyers and investors.  Conventional, VA,FHA, Hard Monday

Porama Srijinda, MBA
REALTOR®, CIPS
Broker Associate at Keller Williams Realty.
Authorized HUD Agent, Short Sale-Equator Experiences
VA, FHA Qualified
DRE. .License # :  01838443