HUD homes can be bought at hugely discounted prices, the key is to know what you are buying and to buy the property at the lowest possible price.
HUD Homes – where can you find them?
An investor’s search for HUD homes begins at the following website: www.HUDhomestore.com.
While it’s true that HUD homes can also be found on the MLS, all HUD homes are on this website so it is much easier to sift through and you don’t need a realtor to do the research.
HUDHomestore.com is a great tool and will enable you to find any home from the Department of Housing and Urban Development (HUD).
The difference between a bank REO or a foreclosed home and a HUD home is that a HUD home is offered by the government while a bank REO is offered by a bank.
HUD insures loans made by the bank, if borrower doesn’t make mortgage payments, bank will file a claim on the insurance policy they have with HUD, when bank gets paid off, they hand property over to HUD to repossess and to resell on their website, www.hudhomestore.com
I have found many houses on www.hudhomestore.com and I am sure you will find quite a few as well.
When you want to bid on a property, you will need to find a real estate agent who is registered to bid on HUD homes.
When buying a home on HUD you will want to do your due diligence, but I would recommend finding a registered HUD Real Estate agent and determining your target area before doing anything else.
Good luck and Happy investing!
More tips and tricks please check our blog from time to time: realestatesalesllc.com