A HUD home is defined by HUD as a residential property acquired by HUD as a result of a foreclosure on an FHA-insured mortgage. As the new owner HUD then offers the property for sale to anyone who can qualify for a mortgage or has cash. At the beginning of the listing the homes are offered to those who will be owner-occupants and if no bids are accepted or received the house then is offered to everyone, including investors.
The HUD bidding process is simple but does require you to use the services of a real estate agent authorized to sell HUD home listings. My office has authorization. The first step is to let us know what area you are interested in so we can provide you a list of available homes, prices and property reports. From there we will make arrangements to show you the listings and then submit your bid electronically.
As of this post there are 9 HUD home listings offered for sale in Orange County which includes Orlando and 4 HUD home listings in Osceola which includes Kissimmee. You can view available homes on your home by visiting this HUD home site. Call or contact me to get started.
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Real estate in Orlando will continue to be a good long term investment.
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