DFW HUD Homes

Dallas Texas Investment Property | Real Estate Investment Properties

We work with seasoned investors in the purchasing and selling of homes, property and real estate in bulk or individually in the Dallas Fort Worth areas of North Texas. If you are a serious investor interested in securing our services to represent your interests in a legitimate property search, please do not hesitate to contact me to discuss our services.

HUD HOMES IN NORTH TEXAS / DALLAS

(HUD) is the acronym for the Department of Housing and Urban Development which offers foreclosure homes throughout the US. The HUD buying process is different from the regular home buying process.

• What is a HUD home?
• How much do HUD homes cost?
• How much is the HUD home down payment?
• How do you buy a HUD home?
• HUD Home Quick Facts
• HUD Foreclosure Article Resources

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.

HOW MUCH DO HUD HOMES COST?

HUD homes are appraised, then priced at fair market value for their location. The price of a home in need of repairs is adjusted downwards to reflect the investment the new owner must make to improve the home.

WHAT IS THE HUD HOME DOWN PAYMENT?

Down payment for a HUD Homes depends on whether the property is eligible for FHA insurance. If not, payments range 5% to 20%. When the property is FHA-insured, the down payment can be much lower. Each accepted offer must be accompanied by an “earnest money” deposit equal to 5% of the bid price not to exceed $2,000, but not less than $500.

HOW DO YOU BUY A HUD HOME?

HUD FORECLOSURE HOMES are sold by a bidding process. There’s an Offer Period, during which sealed bids are accepted from your agent. At the end of that period, all offers are opened. HUD accepts the highest bid, or the bid bringing them the highest net.

HUD HOME QUICK FACTS

• HUD homes are sold as-is with no warranties.
• HUD does not finance homes.

HUD FORECLOSURE ARTICLE RESOURCES

• HUD Website
• Find HUD Homes in Texas
• Find HUD Approved Lenders

 

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