Who qualifies for discount from HUD homes?

Who qualifies for discount from HUD homes?

Housing and Urban Development Department U.S. provides quite vigorous deals timely to the buyers. HUD makes the homes available to the buyers that are foreclosed on the non-payment of FHA-insured loan. Only those who are already registered with the site can place a bid for HUD HOMES and the buyers must bid through the registered agents only. The HUD has declared some parties that are eligible to buy HUD HOMES. They are law enforcement officers, firefighters, emergency medical technicians, or the teachers. Let us have a brief look below at the parties that are eligible to buy HUD HOMES:

Teachers:

The full-time teacher employed by the state-accredited public school or by private school that endows direct services to the pre-kindergarten through 12^th standard students. The school must also serve the students from the area where the teacher is purchasing home.

Firefighter/Emergency Medical Technicians:

The full time Firefighter/Emergency Medical Technician employed by the fire department or by the emergency medical services responder unit of federal government, state, general local government unit or Indian tribal government that serves in the area where the home being purchased is located.

Law Enforcement officer:

The law enforcement officer employed full-time by law enforcement agency of federal government, state, general local government unit or Indian tribal government. The officer must also be under oath to advocate for violations of federal, state, county, tribal, township or the municipal laws.

Owner Occupants:

Individuals having valid SSN who have not purchased any HUD property within past two years are eligible and can bid on HUD HOMES in the exclusive and extended period. They rank above the nonprofit and government agencies in biding selection process in the exclusive and extended listings.

Investors:

The investors having valid Employer Identification Number (EIN) or Social Security Number (SSN) can bid in the extended period and are ranked below the other bidders in the biding selection process.

Nonprofit organizations:

The nonprofit organizations who are in approved purchase areas can bid on HUD homes in lottery, exclusive and extended period. The home must be uninsured if the property is in lottery period and they cannot bid for dollar homes. These agencies rank below Government Agencies in the biding selection process for lottery and above the same for exclusive or extended listings.

Government Agencies:

Accredited government agencies can bid in lottery, exclusive, extended periods in the approved purchase areas and if the property is in lottery period HUD HOME must be uninsured. Government agencies can place bids for Dollar homes.

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

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD  Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443