How Do You Buy A HUD Foreclosure?
If you are in the market for an affordable home and don’t wish to take on a sizable mortgage, buying a HUD home can be for you. Buying a home from the US Department of Housing and Urban Development (HUD) comes with several advantages. While most homes HUD has on the market are foreclosures in need of repair, many are listed for well under market value and smart alternatives for borrowers tight on funds. The agency also offers special sales prices for those in community service-related fields such as teachers, firefighters, police officers and medical personnel. Buying a house from HUD is fairly straightforward, however, there are some things to consider and familiarize yourself with. Step 1 Begin searching for available HUD homes listed in your area by contacting the US Department of Housing and Urban Development. The agency lists its available homes by city and state. The list is updated daily, so check it often. Step 2 Contact local real estate offices to find an agent who is approve
