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Updated over 7 years ago on . Most recent reply

John S Lewis's profile image
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John S Lewis
  • from Jackson, NJ
  • Member since Oct 21, 2017
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John S Lewis's profile image
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John S Lewis
  • from Jackson, NJ
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John S Lewis
  • Jackson, NJ
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166
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Buying & Selling Real Estate

Describe HUD Owned Home?

John S Lewis
  • Jackson, NJ
Posted

Can someone tell me what HUD owned property means and what types of hoops one would have to go through to purchase? Is this like a foreclosed/bank owned deal? Thanks.

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Wayne Brooks
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Wayne Brooks's profile image
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Wayne Brooks
  • #1 Foreclosures Contributor
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

It is simply an REO foreclosed on by fha. Similar to all other reo’s. With hud, no inspection/walk away clause for investor purchases.

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