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.