Buying a HUD Home


You’ve probably heard people talking about buying a HUD home. Maybe you’ve even wondered, “How do I do that?” You hear about the savings a buyer can get by buying a HUD home. Most People are scared and don’t bother. HUD has certain ways of handling offers and transactions, and those details are for me to worry about. The actual process for a buyer is really fairly simple. And most of the time you can be moved in within around 45 days! Approximately 60 day’s maybe more if you are doing a rehab loan.






Here are a few facts about purchasing a HUD home for you to see.



  • You CAN get a loan to purchase a HUD home. Not all HUD homes, but I can tell you which ones can be financed, and which must be a cash only purchase.

  • New HUD listings are available to buyers who are going to live in the home before they are available to investors.

  • Now you can choose your title and escrow company instead of using a company chosen by HUD.

  • Homes are priced lower than market price, and HUD will not do repairs. Your purchase is “As is.”

  • Bids/offers are submitted through your Realtor online. If accepted by HUD, you have 48 hours to get your earnest money, the signed contract (supplied by me, your Realtor) to the HUD office – no exceptions. Fed Ex! So when you make an offer, don’t leave town! I may be calling you to quickly sign and overnight the package to get it to HUD in time.

  • If your loan requires something – example: a water heater, and the home doesn’t have a water heater, HUD will not supply one, and you cannot put one in before close of escrow.(in this instance you would have to change to a rehab loan.

  • A buyer can ask for closing costs to be paid by HUD.

  • Buyer pays for all title and escrow fees (usually over $1000.)

  • When you purchase a HUD home, you must live in it for at least one year. After that year, if you sell your home, you cannot purchase another HUD home until after 24 months has passed.



This is just a quick look on how HUD and Real Estate Work, together we can work it out get a great deal. Let me know and I can get you set up on the search today!

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