If you have any questions about buying HUD owned homes, please call Velda at 325-725-9854 or email VeldaMiller@live.com.
HUD website about buying HUD Properties
Who Can Buy a HUD Home?
HUD properties are sold "as is." Buyer should verify all listing information includig physical sizes, schools, HOA, etc. Contact Velda for bidding procedures, availablility, contracts, addenda, and other reports.
TO BID ON A HUD PROPERTY YOU MUST HAVE A PROOF OF FUNDS LETTER REGARDLESS OF WHETHER YOU ARE GETTING A LOAN OR PAYING CASH.
Any qualified purchaser can offer to buy a HUD home, regardless of race, color, religion, sex, national origin, handicap, or familial status. We abide by all U.S. Fair Housing standards and guidelines.
Before making an offer, prospective buyers must have a letter, written on the stationery of a mortgage lender, stating that they have been approved for the loan amount needed. This means that the Credit Report has been performed, reviewed, and approved by the lender. The letter must state that on the basis of this review, the mortgage financing for a specified dollar amount sufficient to purchase the property should be available to the buyer. Buyers paying cash must provide proof of available funds.
HUD does not make any repairs. There are no representations or warranties, express or implied, on the houses. HUD does not guarantee the condition of any house, listed FHA-insurable or not, or whether it meets local codes or zoning requirements.
HUD Owned homes are sold by electronic bid. Bids are submitted on the behalf of buyers by real estate agents who have a valid NAID number.
Some procedures on buying a HUD owned property will be changing....stay tuned for more information!
Information presented here is subject to change by HUD.