HUD Home Listing

HUD, or the Department of Housing and Urban Development, is the agency that oversees FHA (the federal agency that insures mortgage loans). HUD homes are FHA foreclosures. HUD home listings will tell you which homes are available to buy in your area. After you have found a suitable property you must contact a real estate agent who is authorized to sell HUD homes. Most agents have this authorization so you should not have trouble finding one.

People who have been displaced by natural disasters like Hurricanes Rita, Katrina or Wilma may be eligible for a HUD home discount.
HUD will offer a property for sale in order to recover the debt that is owing on the home. Just about anyone can buy a HUD home just as they can buy a regular home. People who are buying the home as an owner occupier are often offered HUD homes in the initial stages. If the property does not sell it will then become available to investors and other buyers through HUD home listings.

Internet HUD listings are where you can search and find HUD properties that are available for purchase by the public. Management companies that are under contract to HUD maintain these HUD home listings. HUD registered real estate brokers are able to submit offers for properties on your behalf. The real estate broker earns a commission from HUD on a sale.

Because HUD homes are sold as is, no repairs are made and all problems are sold as they are. For this reason it is advisable to have an inspection done once your offer has been accepted on your HUD property of choice. HUD home listings will generally not list faults so it is up to you to do your die diligence in this area.

Some properties in certain areas are available at a lower cost to teachers, non profit organizations, firefighters, law enforcement officers, local governments, medical technicians and other service people under the Good Neighbor Initiative program.

HUD does not have financing available to buyers but some homes are eligible for FHA insured loans from various lenders.