To highlight a few of the reasons people are interested in knowing what a HUD home is:
1. Typically they are priced below market value. I say typically because HUD properties are appraised prior to listing and may be valued in line with other homes not owned by HUD based on their condition. For example, there are HUD properties that are newly built and in need of very little, if any, repair. Properties in need of greater repair, are appraised accordingly.
2. The Good Neighbor Next Door Program is a specific program available to teachers, police officers, fire fighters and EMTs that can buy certain HUD homes at a 50% discount.
3. HUD homes are available to all purchasers, with certain conditions. New listings are typically only offered to owner occupants, but there are more HUD properties that investors can also buy.
Thanks for stopping by to learn more about what a HUD home is.
For more information about what a HUD home is and how to buy one, call/text 410-952-2641.
All the best,
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