What is a HUD Home?

Good morning and welcome! A HUD home is a foreclosed property that is owned by the U.S. Department of Housing and Urban Development. These homes were purchased with an FHA Insured loan. Upon foreclosure, HUD pays off the bank losses and put the home on the market.

HUD homes are typically listed for sale by management companies under contract with HUD and are sold through a sealed bid auction. Any real estate broker registered with HUD, may submit an offer and contract to purchase homes on their client's behalf.

Most FHA approved buyer can purchase a HUD home. However, keep in mind, these homes are first offered to home buyers who will use the home as their primary residence. After the priority period for owner occupants home buyers, unsold properties then becomes available to all buyers, including investors.

HUD homes are often priced below market value and special incentives are sometimes offered. One example is the Good Neighbor program that offers a 50% discount to teachers (pre-Kindergarten through 12th grade), firefighters, emergency medical technicians (EMS), and police officers. Buyers and their agent, can search for available HUD homes at hudhomestore

If it matters to you, it matters to us. We are always looking out for your best interest. As always, thank you so much for stopping by, and remember, if you are thinking of purchasing your new home, or selling an existing one, please give us a call. We are here to help. We have been helping home buyers and sellers 12 years and counting. Until next time...Diana

Photo Taken by Diana Walton

Astor & Eaton Realty
Diana Walton
Real Estate Broker
713.208.8013
Write to Diana Walton at homes@astoreaton.com
https://www.har.com/dianawalton

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