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A HUD HOME
DREAM-COME-TRUE HOWNERSHIP FOR BARGAIN HUNTING BUYERS
What is a HUD Home?
When a buyer defaults (stops making payments) on a FHA insured loan, FHA conveys the title of the property to Housing and Urban Development, a federal agency. The home is then put up for sale by bid. These homes are usually sold in as-is condition which is usually reflected in the asking price.
Who Can Buy A HUD Home?
1. Anyone (within bid date guidelines) who has been financially pre-qualified with a lender and or/anyone who can pay cash. (The funds must be pre-verified.)
Who Can Sell A HUD Home?
1. All bids must be submitted through a HUD registered real estate brokerage.
How Do I Find A HUD Home?
There are websites that list HUD Home information and several companies that sell HUD homes in Utah.
Also, if you are interested in a specific area or price range, we will be happy to keep you informed by e-mail about other REO/Bank Owned and Pre-Foreclosure properties that meet your criteria as they come on the market.
What do I do If I Am Interest in Buying a HUD Home?
Callie Johnson is registered as an agent with Allpro Realty Group to submit bids for buyers on HUD homes in Utah. We can arrange for pre-qualification through a lender with extensive experience in this highly specialized area. The pre-qualification must accurate and fast, as the original bid opened to owner occupants only is usually the first 10 days on the market. Once you are pre-qualified, we will assist you with selecting a home and proceed with the bid/buying process.
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Find Out More About HUD Homes
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There are specific requirements for financing your HUD Home. We'll be happy to provide additional information for you.
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