How To Buy A HUD Home
1. You must use a HUD registered real estate broker.
2. You must be pre-approved for a mortgage.
3. Owner-occupied bidders receive the first priority.
4. HUD offers three types of properties: FHA insurable homes, FHA insurable homes with a repair escrow and homes that are not insurable with an FHA loan.
5. You do not have to finance a HUD home with an FHA loan.
6. HUD homes are sold "as-is."
7. Before making a bid, you must provide your HUD registered real estate broker with the appropriate earnest money in the form of a cashier’s check or money order.
8. Your earnest money check should be made payable to the escrow account of your HUD registered real estate broker.
9. Call me first before buying!