How to Purchase HUD Homes
Homes that had mortgages insured by the Federal Housing Administration and were foreclosed are owned by the Housing and Urban Development Department. Most HUD properties are sold below the assessed value. Bids for HUD homes can be placed directly on the websites once you have contacted an HUD registered real estate broker.
- Go to the U.S. Department of Housing and Urban Development (HUD) website, HUD.gov.
- On the landing page you can see several headings, scroll over the heading "Topic Areas." A two column dropdown list appears. Click on link titled "HUD Homes" which is located on the right column.
- After clicking, a pop up security box appears that says you are leaving the site, click "Yes," then you are redirected to the HUD homes for sale website.
- At the top of the page is a section called "Search Properties." Enter the state, county, city zip code and price range you prefer. Click "Search."
- A list of homes in the area you chose are shown below the "Search Properties" section. The address and information of each home is also listed. Click the picture or the link next to the picture of each listing to view more information. A new page appears with pictures of the home, size, date built and other information about the property, as well as the real estate agent information.
- Make an appointment with the realtor to view the property. Speak with the agent and ask what is required to place a bid on the listing. You can place bids directly on the HUD.gov website, but you must be qualified for government assistance and have a HUD certified broker.