HUD Articles

If you are interested in buying a HUD home and using it as your primary residence, you need to put in a bid as quickly as possible once the property is listed on the market. Once a HUD home is listed online, individuals who intend to live in the home are given 30 days to bid on the home before real estate investors not intending to live in the property can bid.  

Before you find a property, you will need to have  all your financial paperwork lined up for your mortgage loan.  This will allow you to act fast once a home is on the market.

Once you are financially set up to act fast, you'll need a team in place to help you make a deal. Select a HUD-approved realtor to submit your bid for you, which you can find on HUD's website.

When you have your team in place, your down payment ready, and your pre-approval letter, you're ready to start shopping. Your realtor should be sending you availalbe homes for sale directly, but it is also a good idea to check the HUD website regularly for anything new that comes on the market.  

If your bid wins, HUD will contact your realtor, who will need to submit HUD-specific paperwork within strict deadlines. For this reason, it is important to work with a realtor that has experience working with HUD. You will need to have the home inspection completed quickly. If the property passes, you will be able to move in once your home closes, typically 30 to 60 days after a bid is accepted.