HUD is an acronym for The U.S. Department of Housing and Urban Development. HUD is responsible for liquidating homes that were foreclosed, which had government backed loans such as VA (Department of Veteran’s Affairs) and FHA (Federal Housing Administration).  

 

HUD homes can be a great value for homebuyers.  Because these properties have been foreclosed little information is known about them.  HUD homes are sold as-is without warranty. HUD properties may be turn-key and some require repairs. These properties may qualify for FHA 203(k), FHA 203(b), or construction loans. HUD will disclose information that they do know on a property condition report.  We recommend that you hire a competent professional to determine the condition of the property. 

 

These HUD homes are sold in an online auction bidding process.  HUD homes are listed with HUD certified REALTORS on the MLS (Multiple Listing Service).  Once your bid has been accepted you typically expect to close in about 45-days.  

 

Total Freedom Realty specializes in HUD homes.  Call us to set up your free, no obligation appointment.