HUD homes are properties the United States Government repossess after they go through foreclosure. Homes purchased between June 1 and November 30, 2009 that meet the criteria will be eligible for the tax credit. Be sure to avail yourself to all of the background information on the home’s history, including sales history, recent tax assessments, and the average sale price of comparable homes in the neighborhood.
HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). HUD does not blackball investors who submit many offers, in fact HUD encourages all bids to be submitted no matter how low they are. HUD Homes are available to all buyers, including investors, who have the necessary funds or can qualify for a loan.
The US Department of Housing and urban Development (HUD) has a lot of listings of for sale homes. HUD homes are excellent opportunities to get a home cheap that needs some work done to it. I know personally some of our clients have gone through Home Loans For All for HUD homes.
HUD will pay a 6 percent sales commission to agents involved in the sale, whether sold through a broker or sold by HUD directly. Foreclosures are pretty much drying up. (There will always be some but you won’t see the deluge of homes as you did since the GREAT RECESSION started.) Depending on the market that you are researching, WM might be useful.
HUD also offers programs for public servants such as teachers and police officers. HUD will typically change the price on HUD homes every 35 to 50 days a home is actively on the market. On the HUD website you’ll see in the left sidebar a link to HUD Homes This page provides links to all fifty states and the District of Columbia.