I have been fortunate enough to work with HUD homes for some time however a lot of buyer and even agents don’t know what a HUD homes is so here is a bit of scoop. A HUD home is a home that is for sale by the US Government, Department of Housing and Urban Development (aka HUD).
The United States Department of Housing and Urban Development (HUD) acquires thousands of homes every year through foreclosure with properties that had Federal Housing Administration (FHA) insured mortgages. After a lender has foreclosed on such a home, the mortgage insurance will compensate the lender for losses incurred and the title on the secured property transfers to HUD. Obviously, the Federal government is not in the business of owning homes, nor do they have the capacity to sell the REO (Real Estate Owned) homes themselves, so these properties must be sold on the open market to new homeowners through private real estate brokers. HUD contracts with a limited number of companies to act as Asset Managers (AMs) and Field Service Managers (FSMs) through the Marketing program. These companies will manage the properties, list the homes with brokers for sale, and act in behalf of HUD to negotiate sales prices and terms.
At this time, I am one of those Brokers that is contracted to represent the US Government, Department of HUD on it’s sales to the public. I earned this right through hard work and selling lots of HUD homes to my buyers. At this time, we have directly closed over 150+ HUD sales to our buyers and for my seller in multiple states. I am also entrusted to teach other agents how to work with HUD and become registered brokers/brokerages on how to sell these homes and appropriately complete the contracts and transaction. At this time, I have helped train over 3500 agents in multiple states to work with HUD homes.
If you need help with HUD homes or are interested in these homes as an investment or to occupy for yourself, come to the guy teaching others! The transactions are different and there are pitfalls for agents/buyers that do not know the process.
I can send you lists of HUD homes to consider as we search for your perfect home or real estate investment.
Call for help today,
Keller Williams Realty