About Buying HUD Homes

What is a HUD Home?
A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.

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Who can buy a HUD Home?
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.

If you are an evacuee displaced by Hurricane Katrina, Rita or Wilma, HUD could sell a HUD home at a discount to you!

How are HUD Homes sold?
All properties available for purchase by the public are offered for sale at Internet listing sites maintained by management companies under contract to HUD. Any real estate broker registered with HUD may submit an offer and contract to purchase on your behalf. HUD pays the real estate broker's commission, if included in the contract.

Are there any special programs?
Properties in designated areas are available at a reduced sales price to law enforcement officers, teachers, firefighters, emergency medical technicians, nonprofits and local governments. Read more about these Good Neighbor Initiatives.

Should I get a home inspection?
We encourage you to get an inspection after your offer is accepted. All HUD Homes are sold AS-IS, without warranty. HUD will not make repairs nor pay to correct any problems.

What about financing?
Although HUD does not offer financing directly, some of our homes qualify for FHA-insured loans. Shop around for a lender to find the best loan terms. Find out how an FHA loan can help you.

What You Need to Bring to Settlement…

What You Need to Bring to Settlement…
Settlement customs vary widely. Your best bet is to consult with your agent and attorney about who is expected to bring what items to settlement. Most items will be sent ahead by your Sales Associate or arranged by the settlement attorney or escrow agent.

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Items needed at settlement:


A Copy of your Real Estate Purchase Agreement and all Addenda.

A Copy of your Good Faith Estimate provided to you by your lender.

Certified Funds for the amount that your lender has required (certified bank check, money order, cash). If you are not sure of how much to bring simply call your lender or your agent.

Proof of Identification for each person signing on the home/loan(s). Usually your Driver’s License works best.

If you are signing on behalf of another individual you must bring a copy of the Power of Attorney Document.


Any additional lender required item(s). Your lender will have notified you of any additional items.