What is a HUD Home?
A HUD Home is a 1-4 unit single-family residence, condo or townhome that has been conveyed to HUD by the lender as a result of foreclosure when the borrower has defaulted on the FHA-insured loan. HUD then sells the property at “AS IS” market value based on a recent appraisal conducted as quickly as possible through an Asset Manager (AM) Contractor such as Pemco.
Can anyone purchase a HUD home?
Yes, anyone with a valid Tax ID (*SSN or Employer Federal Tax ID) issued in the United States can purchase a HUD home.
How can I view and place a bid on a HUD Home?
To place a bid or gain access to view a HUD property, you MUST be accompanied by a registered HUD broker; such as myself.
