This is the best guide covering the topic of HUD I have ever read, by far. You should contact a local HUD approved Real Estate Broker to see if it is currently being offer in your state. All in all, it appears that there are more sources that are pointing to the dominance of the short sale in real estate for the 2nd half of 2012.
HUD also does not pay for title insurance, or any closing fees that other sellers my typically pay for. Any real estate broker registered with HUD may submit an offer and contract to purchase on your behalf at HUD pays the real estate broker’s commission, if included in the contract.
It is highly recommended, therefore, that the potential buyer spend the money and pay for a professional home inspection before making an offer on a HUD home. This article is written for home buyers, not investors, and I will discus the things they should know before making a bid on a HUD house.
If sold directly, HUD will generally place ads in newspapers, rather than place individuals on mailing lists for their single-family homes. In addition to weekly newspaper advertisements in the real estate classifieds, HUD homes are also advertised through a number of other sources.
When the foreclosure process has been completed, the lender submits its HUD insurance policy back to them with foreclosure costs, accumulated interest and legal fees for reimbursement. HUD does not blackball investors who submit many offers, in fact HUD encourages all bids to be submitted no matter how low they are.