REO And Bank Owned Homes
The US Department of Housing and Urban Development (HUD) sells properties you may be interested or want to buy. The homes that receive no bids during that time, HUD will accept offers as they come in. Instead, one way you can make bids at is by using a HUD-approved real estate agent that will handle the auction transaction for you. The price of the property is fixed at a base price which is the outstanding loan this is much cheaper than the market price and benefits the buyers and investors in a big way.
The buyer can check for the market price to understand the difference. Non-FHA financing and cash purchases are most often used for properties with the disposition of UI. Once the initial offer to owner occupants expires, HUD homes become available to anyone, include investors looking to buy HUD homes and flip them, or buyers looking to …