Top 4 Questions Asked About HUD Homes
August 10, 2021
Everyday we get calls and emails regarding HUD Homes. Here are the top 4 questions we are asked.
1. What Is A HUD Home?
The HUD Homes we sell are homes the previous owner had an FHA mortgage on, HUD backed that mortgage. So when the owner defaulted on the mortgage, it becomes a HUD Home.
2. Is it like buying any other homes that are on the market?
No. HUD Homes are sold "as-is" It is a blind bidding process, your agent places a bid on the HUDHomestore.com - HUD collects all the bids placed before the bid due date and picks the highest bid.
3. Can I see the home before I bid?
Absolutely! Your agent can make a showing appointment just like any other home.
4. How do I get started?
First things first, if you are not paying with cash, you will need to get a mortgage pre-approval. This way you will now the amount money you have to work. Second, take a look at the HUDHomeStore.com to see all the available HUD Homes. Third, contact us or any real estate professional for a private showing.
