Articles

A primary goal of HUD in selling HUD homes is to provide housing ownership opportunities to those who plan on being owner occupants. An owner occupant is defined as someone who intends to occupy the property as their primary residence for at least 12 months and has not purchased a HUD home, as an owner occupant in the past two years. To accomplish this goal, HUD has established priority periods for owner occupants to views and bid on certain single-family properties (single family houses and multi-unit properties where HUD has classified them as FHA Insured and Insured with escrow) and prohibits investors from bidding. This bid period restricted to owner occupants is currently 15 days from the initial list date for new listings. However, to provide more opportunities to owner occupants, HUD is increasing the special priority period from 15 days to 30 days, beginning March 1, 2022. So, as of March 1, 2022, owner occupants will enjoy exclusive opportunity to purchase select HUD homes for 30 days on all new HUD listings that are listed as FHA insured or insured with escrow