HUD Foreclosure Properties

HUD offers their homes for sale initially to owner-occupants and then to investors. Prudential Premier Properties is a registered HUD broker with access to all HUD properties.

These are properties that were initially purchased using FHA financing and then taken back by HUD after foreclosing on the buyer.

Generally speaking, these homes will need major repairs prior to occupancy. They have been vacant for awhile and will not have functioning utilities. They are sold in “as-is” condition and purchaser will pay ALL transfer taxes. Buyers will receive clear title at closing. Investors should be prepared to pay cash or have access to a line of credit. Obtaining conventional financing is possible but challenging.

The bid process is quite simple and done on-line by a registered HUD broker. Buyers will need a cashier’s check for $500 or $1000 when making an offer. They will need to provide proof of funds. If the bid is expected buyers must close within 45 days.

Available HUD properties can viewed on-line at www.hooksvanholm.com