Myth: HUD homes are ramshackle houses only good for investment purposes.
Fact: HUD homes are purchased from a bank or mortgage company by the Department of Housing and Urban Development because the FHA had insured a loan on the property that defaulted. The property condition can vary from poor to very good.
The process of bidding on a HUD home is very straightforward.
Your original offer is submitted on-line. You will know if your offer was accepted one week (sometimes much sooner).
Before you submit a bid you must have a letter from your mortgage company showing that you are approved for the financing to purchase the property. If you decide to pay cash, you must show formal proof of funds. A minimum earnest money deposit of $1,000.00 is required (certified funds, money order, or cashiers check is preferred).
If you would like assistance or have any questions about the HUD program, please give me a call or send an email message. If you prefer, you may submit your information on the form below. We will contact you as soon as possible.
Please note, the information you provide will not be sold or shared for any reason. However, we reserve the right to contact you directly regarding HUD Homes.
Click Here to request information on HUD Homes
For more HUD info, visit http://www.hudhomesource.com/