When a HUD home becomes available for sale it is listed both in MLS and on their official website: www.hudpemco.com. Only HUD registered real estate brokers who are properly registered with HUD may show these homes and submit contracts online for purchase for potential homebuyers. All HUD homes are offered on a priority basis to owner occupant purchasers (people who are buying the home as their primary residence). Following the priority period, unsold properties are then available to all buyers, including investors.
HUD does not provide direct financing to buyers of HUD homes. Buyers must obtain financing through either their own cash reserves or a mortgage lender.
All HUD homes are sold strictly AS-IS. HUD does not make any repairs or provide any warranties on the houses, nor does HUD guarantee the condition of any house. As a buyer you must make sure the home is in a condition you are willing to accept.
