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HUD Homes for Sale  

HUD sells properties at reduced prices that you might want to buy.
Learn how you can buy a HUD home.

If you think you want to buy a HUD home, contact a real estate broker in your area who is authorized to sell HUD homes (most are). The broker must submit the bid for you.

If you're buying a HUD Home, you're required to use a real estate agent. While purchasing a HUD Home may be easier than many private real estate transactions, there are still some requirements which must be met–certain forms that must be used, and procedures that must be followed. But these requirements are clearly stated in advance, and the real estate agent will be there to help you through it all.

HUD homes are appraised, then priced at fair market value for their location. The price of a home in need of repairs is adjusted downwards to reflect the investment the new owner must make to improve the home.

You will generally make your offer for a HUD Home during a designated “Listing Period.” With the commencement of the Initial Listing Period, bids may be submitted by all potential purchasers. 

However, priority will be given to owner-occupant purchasers for the first 10 calendar days as follows: All owner-occupant offers received during the first five days of this 10 day period will be considered to have been received simultaneously. On the first business day following the expiration of the five day period, owner-occupant bids are reviewed, at which point the highest acceptable net owner-occupant will be accepted. Should there be no acceptable owner-occupant bids, owner-occupant bids will be reviewed on a daily basis for the remaining five days. At each such daily review, HUD will accept the highest acceptable net owner-occupant bid. At the conclusion of the 10-day owner-occupant priority period, should the property remain unsold, a review of all general public bids (e.g. investor) received during the 10 day period will be conducted.

What to Read  

Understanding Real Estate, the Home Buying Process, Mortgages and Investing will make you a better consumer. Explore our site, use our STATE LIST to find information related to your state.

See our Investing Guide for more information on Investing in Real Estate - for your first home, Retirement home or for investment purposes.

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