What is a HUD home and how do you buy one?

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One Response to “What is a HUD home and how do you buy one?”

  1. Bluehawk says:

    A HUD home is one foreclosed on by the Dept of Housing and Urban Development. These houses go on electronic auction for a period of time, where you have to live in the house for three years. After their initial auction period, if the property didn’t sell, investors can bid on it.

    Check out HUD’s listing site…
    http://www.hud.gov/homes/homesforsale.cfm

    They’ll tell you what it takes to own a HUD house. Your realtor should know the details of how to bid.

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