You see them all over town and we're seeing more and more of them on the market each and every month. HUD houses are owned by the U.S. Department of Housing and Urban Development "HUD" and are the product of an FHA insured mortgage that was foreclosed upon. While HUDs have a reputation of being severely dilapidated or uninhabitable, we are seeing a higher quality in condition of HUD homes on the market these days so they are being purchased not only by investors, buy by owner occupants looking for a good deal. And a good deal they are! HUD homes tend to be the lowest priced homes in any given price range and also tend to go under contract very quickly if in a good, livable condition.
Buying a HUD home requires the expertise of a real estate professional, and one cannot bid on a HUD home without a HUD Registered Real Estate Broker. HUD transactions are very similar to a standard real estate transaction but HUD does do things a little different and any home buyer would surely benefit from the experience and knowledge of a Real Estate Agent in a HUD, or any, real estate transaction. Most HUD's are available for investor purchase after a short period of time of open bidding to owner occupants. If not sold to an owner occupant within that window, investors can then bid.
If you or someone you know would like more information on HUD owned properties in Grand Junction or other areas of Mesa County, CO, please visit www.hudhomestore.com then contact me at (970) 985-1525 to place your bid. I am a HUD registered agent and look forward to helping you find those great deals!