You may have gone by a house and saw the orange stickers on the front door or windows. In addition to offering America’s largest and most accurate searchable database of foreclosed properties, provides you with helpful links and resources to help you learn everything you need to know about the foreclosure process and buying a HUD home.
One school of thought for finding foreclosure properties is to find them on your own (the drive-by method, courthouse steps, online, newspaper ads, etc.). But a faster way is to use a seasoned realtor, preferably a “listing realtor” who specializes in foreclosures.
No money down has resulted in most properties going into foreclosures. You can find HUD properties by calling a local real estate agent or authorized HUD broker, looking in the newspaper for HUD property sales or by calling HUD directly. Walk away from any so-called”professionals” who offer provide you, for a fee, with listings of Houston foreclosures; the information is freely available from plenty of sources.
HUD homes are properties owned by the U.S. Department of Housing and Urban Development. The bidding process is done on the internet by an approved real estate agent. Offers are not made on the traditional Georgia contract, but rather on the HUD electronic bidding system.
HUD home foreclosures are simply appraised and then sold at the current market price. Your real estate agent can help you locate HUD homes in your area, especially if that’s their area of expertise. When they do, they are offered under the program for a limited time.