OPEN HOUSE: Saturday August 24th, 2013- 2:30 PM till 5:00 PM
What is a HUD Home? A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.
Who Can Buy a HUD Home? Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.
Should I Get a Home Inspection?
HUD does not warrant the condition of its properties and will not pay for the correction of defects or repairs. Since the new owner will be responsible for making needed repairs, HUD strongly urges every potential home-buyer to get a professional inspection prior to submitting an offer to purchase. If you are interested in acquiring a HUD Home that is in need of repair, you may be interested in applying for an FHA 203(k) Rehabilitation Loan, see your lender for qualifications.
Front Door Realty is a locally owned brokerage that specializes in buyer brokerage services, lot and land sales, luxury properties, HUD homes, corporate relocation, and more. Give us a call today so we can match you with the perfect team member!
The National Association of Realtors’ most recent Existing Home Sal
"Stephanie has helped us buy two homes in Vancouver in the last 5 years. We really appreciate her level of communication and understanding of our needs. She has great knowledge of the process and perfect contacts to help you in almost any situation. In short we will use her as our agent until we leave the area."