Purchasing a HUD Property is a great investment or an opportunity to purchase a primary residence at a reduced market rate.
Partners Investment Properties is your HUD Broker and will represent you from BID to close.
There are several opportunites available. HUD properties go on the market weekly and bidding can be placed daily.
HOW TO PURCHASE A HUD HOME
What is a HUD Home?
A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.
Who can buy a HUD Home?
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.
What about financing?
Although HUD does not offer financing directly, some of our homes qualify for FHA-insured loans. Shop around for a lender to find the best loan terms.
Should I get a home inspection?
We encourage you to get an inspection after your offer is accepted. All HUD Homes are sold AS-IS, without warranty. HUD will not make repairs nor pay to correct any problems.
How are HUD Homes sold?
You must utilize a HUD Registered Broker in order to place a Bid on any HUD property.
Partners Investment Properties is a registered HUD Broker and will submit an offer and contract to purchase on your behalf.
HUD pays our real estate broker's commission!
The bidding process for a HUD property is easy, just as long as you know what you can afford.
We will place your BID upon completion of the required documents and receipt of the required deposit.
Once your BID is placed, then we wait to verify the results. If you are the winning bidder, then we will meet to have all of the paperwork signed.
All paperwork must be submitted within 48 hours of winning a BID.
If you have any questions about a specific property or the process to purchase a HUD property, please contact us at 781-974-9189 or 1-800-965-9281.
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