BUYERS: What is a HUD home and how can you buy one?

Real Estate Broker/Owner with Hartsock Realty

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.

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.

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.

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 and be sure to inquire if they are an FHA lender.  

If you would like more information or a list of HUD homes in the Lima, OH area - please contact me at or my search the MLS on my website at



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Terri Poehler
Realtor - Coral Springs, FL
Coral Springs Real Estate Agent

Yes, but Cyndi, I still don't get why they are called HUD? To me, that isn't any different than a Foreclosure. What makes it HUD. Just being owned by HUD?  

Jan 10, 2011 03:05 PM #1
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Cyndi Hartsock

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