How To Buy A HUD Home

Real Estate

How To Buy A HUD Home in Vancouver, WA

l You must use a HUD registered real estate broker.

l You must be pre-approved for a mortgage.

l Owner-occupied bidders receive the first priority.

l HUD offers three types of properties: FHA insurable homes, FHA insurable homes with a repair escrow and homes hat are not insurable with an FHA loan.

l You do not have to finance a HUD home with an FHA loan.

l HUD homes are sold "as-is."

l Before making a bid, you must provide your HUD registered real estate broker with the appropriate earnest money in the form of a cashier’s check or money order.

l Your earnest money check should be made payable to the escrow account of your HUD registered real estate broker.