What is a HUD Home?
A HUD Home is a one to four unit single-family residence, condominium or townhome that has been conveyed to HUD by the lender as a result of foreclosure when the borrower defaults on the FHA-insured loan. HUD in turn sells the property at “AS IS” market value based on a recent appraisal as quickly as possible. HUD Homes vary in price, location, and condition. Some are in move-in ready condition and others are not.
NOTE: Buyers must use a HUD Approved Authorized Real Estate Company, such as Ameri-Homes Realty to view, answer your questions, place your bid and purchase any HUD Home.
Who can buy a HUD Home?
Anyone with a valid Tax ID (*SSN or Employer Federal Tax ID) issued in theUnited States can buy a HUD home. Potential buyers must qualify for a mortgage or pay cash to buy a HUD home. Buyers must have a pre-qualification letter from a certified lender, or proof of funds in the amount of, or greater than the gross purchase price of the property.
NOTE: At Ameri-Homes Realty we look forward to helping you with any requirements on these homes.
Where can I find a HUD Home?
HUD homes are listed here. (Click On One of the RED Links on the Right Side of Page)
How can I view a HUD Home?
All buyers MUST be accompanied by a broker or agent when viewing any HUD Home listed for sale. So please call us to view any HUD home you would like to see or need help with.
Do I need a realtor to place a bid for me?
Yes, please contact Ameri-Homes Realty to view and answer any questions you may have & to place your bid on any currently available property for sale.
What are the current FHA and other buyer incentives?
For a limited time, FHA offers incentives on HUD homes that will make these homes more affordable for homebuyers when purchasing a property using FHA-insured financing. The current incentives in Georgia include down payments as low as $100 for owner/occupants using an FHA Loan, also up to 3% of purchase price paid towards buyer/s closing costs (when included in bid). The benefits of FHA financing are low down payments; competitive interest rates; flexible credit qualifying.
