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HUD Homes
PMZ can help you purchase a HUD home. Our HUD Specialists will assist you every step of the way. Your PMZ Specialist will help you get prequalified for a loan, update you as homes become available, assist you in the bidding process, and guide you through escrow.
What is a HUD Home?
A HUD home is a property that has been previously purchased with an FHA loan and has been foreclosed on due to default on the loan.
How do I purchase a HUD Home?
Your HUD registered PMZ representative can help you through the process. Here are a few things to note:
- You must be pre-approved before making a bid on a HUD home.
- You must have a $1,000 deopsit in a cashier's check or money order.
- Bids are taken in a specific time frame. Your PMZ representative will assist you in making the bid.
- The person with the highest net bid to HUD will have the first opportunity to purchase the home.
What are the advantages of buying a HUD home?
- New list of HUD homes weekly, if available.
- Low down payments.
- HUD may assist you with your closing costs.
- Repair cost on some homes are paid by HUD.
- Homes are often below market price.
Remember, you must make a bid with a HUD Registered Specialist so contact one today.
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