Buy a HUD Home

There is a misperception that all H.U.D. Homes are beyond general repair. This is not true. A HUD Home is simply a one-to-four unit, single-family residence that has been acquired by the Department of Housing and Urban Development (HUD) as a result of a foreclosure on an FHA-insured mortgage. HUD Homes are generally offered for sale at a fair market price based upon a recent appraisal. Most HUD homes do require some level of work, and are sold in AS-IS condition.

What makes buying a HUD home challenging is that there are more restrictions on how a person must go about putting in an offer on a home. All offers are submitted electronically at the HUD Home Store website, and an account must be created prior to submitting an offer. I have such an account though RE/MAX of Pueblo, Inc.

Nearly anyone can buy a HUD home, but there are some restrictions depending on what type of Buyer you are. For instance, investors cannot bid on a HUD home until the 31st day that the home has been on the market. Owner occupants can bid on the home immediately, but must occupy the house for 2 years after its purchase.

These are pitfalls that I have been trained to avoid. If you are interested in purchasing a HUD home, give me a call, text, or e-mail. I will be glad to assist you.

David R.G. Webb

Broker Associate

RE/MAX of Pueblo, Inc.

511 W. 29th Street, Pueblo, CO   81008

Cell: (719) 248-9286, Office: (719) 585-8797, Fax: (719) 546-1243