Lisa Clary
Coldwell Banker Realty

 

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How To Buy A HUD Home

How To Buy A HUD Home HUD homes are homes acquired by the U.S. Department of Housing and Urban Development (HUD). If a foreclosed home was purchased with a loan insured by the Federal Housing Administration (FHA), the lender files a claim for the balance due on the mortgage. The FHA pays the claim, then transfers ownership of the property to HUD, which sells the home. HUD homes are priced at fair market value for their location based on appraisal. Teachers and police officers are given a 50 percent discount on HUD homes. Investors often purchase HUD homes to fix up themselves and sell at a profit. HUD homes are sold as-is – HUD is not responsible for repairs and improvements. You can vi…
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Lisa Clary

Coldwell Banker Realty
Updated Mar 1, 2021 6:58:pm. Copyright © 2021, Houston Realtors Information Service, Inc. All information provided is deemed reliable but is not guaranteed and should be independently verified. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Any home sales data appearing on this page is obtained from public record sources (or estimates, for non-disclosure states) as provided by ATTOM Data Solutions and does not comprise an appraisal or a Comparative Market Analysis (CMA). This information should not be used to replace a professional appraisal nor to determine the price of a particular property.