HUD Home General Information:
A HUD home is nothing more than a house that was purchased with an FHA loan that has since fallen into foreclosure. Buying a HUD home is different from buying another type of foreclosed property. For starters, HUD homes are sold exclusively online in an auction process known as an “offer period.” Only real estate agents who are registered with HUD may represent home buyers. You may make an online offer or be present at the auction during the offer period. At the end of the offer period, all offers are opened and considered to be received simultaneously. The highest acceptable net bid is then accepted, and the buyer’s agent is contacted.
Representation and Experience in Purchasing a HUD Home:
Metro Realty and Management is a registered agent with HUD. We have several years of experience helping buyers achieve winning bids. Attentiveness and responsibility are two of the most important factors that lead to success when attempting to acquire a HUD home. Metro Realty and Management will be there through every step of the way from the initial search, inspection, writing of the offer, and closing. Over the years we have garnered special knowledge from writing and winning bids. Give us a call today and we can get you started on the right path.