Select Service Realty

What is a HUD Home and Benefits of Buying a HUD Home

HUD Owned Homes offer a great opportunity to save thousands of dollars on the purchase of your home.  


There are many advantages to purchasing a HUD.  First, there is no haggling with the seller.  HUD's sealed bid system is desinged to be a trasparent system with a quick response to bids - usually within 24 hours.  Second, HUD provides closing cost assistance up to 3% of the purchase price of the property. Third, most HUD Owned Homes qualify for FHA financing which requires a low down payment of 3.5% of the purchase price.   Finally, HUD requires a low earnest money deposit of $1,000.  With these and other benefits, purchasing a HUD Owned Home is the smart choice for prospective home buyers. 


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