Frequently Asked Questions When Buying a HUD Home

What is a HUD Home?

 A HUD Home happens to a property when a person with an FHA insured mortgage cannot settle the payments, the lender will then foreclose the home wherein the HUD will pay the lender of the owed amount which makes the HUD the property owner. After the HUD owns the property, HUD will now sell the house to bring back the huge loss of the foreclosed property. The HUD will sell it at market value as soon as possible. This is how a home becomes a HUD property.

Are HUD Homes only sold to people with low income?

HUD Homes vary in prices, depending on the area, although most HUD Homes are affordable.

I’ve heard that I can buy a HUD Home for a dollar, is it really possible?

HUD sells the property at market value which means that the amount will be of the same price of the same houses sold in the area.

How can I buy a HUD Home?

Before you can buy a HUD Home, you have to start by choosing a trusted real estate agent. Your real estate agent can then submit your bid. If your bid will be accepted, your real estate agent will then be notified.

Where can I find HUD Homes for sale?

You can ask your real estate agent in your area that shows HUD Homes for sale. They can help you find the right HUD Home for you.

Can I invest in HUD Homes?

Majority of HUD Homes are initially offered in a priority basis to home buyers or occupant purchasers that will make it their primary residence. After the priority period, those HUD Homes that were not sold will then be available to all the buyers and investors.

http://www.sdhudhomes.org/ provides best HUD Homes to Homeowners, Buyers and Investors.

Porama Srijinda, MBA.

REALTOR®, CIPS

Broker Associate at Keller Williams Realty.

Authorized HUD  Agent. Short Sale and Equator Experiences,

Ca. DRE. Lic# 01838443