
Buying a HUD Home
- You CAN get a loan to purchase a HUD home. Not all HUD homes, but I can tell you which ones can be financed, and which must be a cash only purchase.
- New HUD listings are available to buyers who are going to live in the home before they are available to investors.
- Now you can choose your title and escrow company instead of using a company chosen by HUD.
- Homes are priced lower than market price, and HUD will not do repairs. Your purchase is “As is.”
- Bids/offers are submitted through your Realtor online. If accepted by HUD, you have 48 hours to get your earnest money, the signed contract (supplied by me, your Realtor) to the HUD office – no exceptions. Fed Ex! So when you make an offer, don’t leave town! I may be calling you to quickly sign and overnight the package to get it to HUD in time.
- If your loan requires something – example: a water heater, and the home doesn’t have a water heater, HUD will not supply one, and you cannot put one in before close of escrow.(in this instance you would have to change to a rehab loan.
- A buyer can ask for closing costs to be paid by HUD.
- Buyer pays for all title and escrow fees (usually over $1000.)
- When you purchase a HUD home, you must live in it for at least one year. After that year, if you sell your home, you cannot purchase another HUD home until after 24 months has passed.
Testimonials
- Marlena Brownlee
- Michelle Lane
- Rex Teirney
- A
- Zechariah and Erin David
- Jim Lambright
- Garvin Goodson
- Jen Cortes
- Marlena Brownlee
- Jennifer Cortes
- Scott and Andrea Valentine
- Satisfied Client
- Joseph Combs
- Hannah Cessna
- Scott and Andrea Valentine
- Garvin Goodson
- Misty Garrett Zabel
- Combs Family
- Michael Robert Trew
- Kimberly & Zach Austin
- Kenny Rayburn
- Kristina Heath
- Ashley
- Ashley
- Kristina Heath
- Josh Hibbard
- Hannah Cessna
- Steve Carpenter
- Michelle Lane
- A
- Joseph Combs
- Misty Garrett Zabel
- Jim Lambright
- Zechariah and Erin David
- Satisfied Client
- Michael Robert Trew
- Kristina Heath
- Kenny Rayburn
- Jennifer Cortes
- Steve Carpenter
- Amanda Ford
- Kristina Heath
- Combs Family
- Rex Teirney
- Josh Hibbard
- Jen Cortes
- Amanda Ford
- Kimberly & Zach Austin