HUD Homes & Photo List
Welcome to your HUD Home Resource. HUD Homes are very competitively priced and one of the best values on the market! We are a HUD Local Listing Brokers (LLB) for Southern Washington.
Here are answers to some commonly asked questions regarding HUD Homes:
What is a HUD home?
A home that has gone into mortgage default with a loan that is insured by the Federal Housing Administration (FHA) is referred to as a HUD Home. When this occurs, the lender takes possession of the property and conveys ownership to HUD. HUD then sells the home through their Asset Management (AM) contractor, such as BLB Resources. A HUD Home may be a single-family house, townhouse, condominium, mobile home or a multiple family attached home up to 4 units.
Who can purchase a HUD Home?
HUD Homes may be purchased by any individual, company, HUD-approved non-profit organization, or government entity that can secure financing or pay cash for the property. Interested buyers must submit bids through a HUD-registered real estate agent.
What is the Exclusive Listing Period for HUD homes?
When a HUD Home is first listed for sale, priority is given to owner occupants, non-profit organizations and government entities. The duration of this Exclusive Listing Period will vary depending on the property’s FHA insurability.
What is the Extended Listing Period for HUD homes?
After the Exclusive Listing Period has expired, unsold properties enter the Extended Listing Period. These properties are available for all purchasers, including investors, until an acceptable bid is submitted.
How do I purchase a HUD Home?
Through an electronic bidding process submitted through a registered HUD Real Estate agent. Please contact us and we will be happy to help you! For additional resources go to: www.blbresources.com
For Brokers: Quick Reference Guide on How To Bid
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