HUD Homes For Sale (2)

When payments are not paid on a mortgage insured by the Federal Housing Administration (FHA), the lender (mortgagee) forecloses, or accepts a deed-in-lieu. HUD will generally accept the highest bid, or the bid that brings them the highest net. For Investor bidders, you can loose your earnest money if you decide to back out of a HUD purchase for ANY reason, including any problems that come up as a result of inspections. A word of caution, you need to make sure that the real estate agent that you use is experienced in buying HUD homes for sale. Not all Real Estate agents or Brokers can help you directly buy a HUD owned home. The sale is managed by HUD hired asset management companies throughout the country.

Extended (up to 180 days or open-ended): Homes worth more than $25,000 dollars remain in what becomes an open-ended Extended listing period. Keep in …