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Can you only buy the "HUD Homes" listed by bidding online. Auction?????

  • January 19 2011 - South Bend
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Answers (3)

You do have to be a licensed agent to submit a bid but not all agents can submit a bid. Their firm must first be registered with HUD. It is true that this process can take longer but if your bid is accepted you only have two days to get the paperwork in. You can also find agents right on their site:
www.hudhomestore.com  let me know it you have any other questions. I would be happy to answer any other questions.
  • March 22 2011
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Homes that are for sale by HUD require an online bid by a licensed real estate agent. There is more paperwork involved and rules that govern these purchases. You will need an agent who has experience with HUD homes. And a word of advice, don't be in a great hurry to get one closed. It could take up to 2 months depending on where you are located. While it is possible to get a home at a good price, just be patient and follow all their rules so that your offer won't be thrown out.
  • January 19 2011
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Yes, you must first have a licensed Realtor or Broker submit the bid on-line.  there are different catogories of bidders, such as owner occupant, investor, good neighbor, etc.  You could be bidding against 0 people or 20 million people.  But it must be done on-line, after the bid is accepted you'll have 2 days to get the contract and other required items to the HUD closing company.  Good Luck!
  • January 19 2011
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