If you're in the market for a new home, whether for yourself or as an investment, buying a HUD home can be an excellent choice. HUD's (US Dept of Housing and Urban Development) mission is to increase homeownership, support community development and increase access to affordable housing free from discrimination. A "HUD Home" is basically a foreclosure of a home that has an FHA (government backed) loan.

HUD is not in the real estate business, nor do they want to be. Therefore, the properties that they sell are usually listed under market value. Before searching for a HUD home, there are a few things you should know...

• HUD Homes are sold "as-is". This means that after your offer is accepted we can inspect the home but they will not pay for any repairs. There may be a small concession offered at the beginning of the process, but that concession will normally not be increased, regardless of what our inspection finds.
• Anyone can buy a HUD home. Usually they're offered to owner-occupants first and then to investors.
• You could buy a home for 50% of list price. Through HUD's Good Neighbor Next Door program, if you are a law enforcement officer, pre-Kindergarten through 12th grade teacher, or a firefighter/emergency medical technician, you can contribute to community revitalization while becoming a homeowner.
• Only HUD licensed agents can submit bids, so be sure to contact me if you would like to place a bid. Remember, the seller (in this case, HUD) pays my commission, not you!

Here is the link to search for HUD homes. If you have any questions, don't hesitate to contact me.

Drew