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What is a "HUD Home"?
When someone with a HUD insured mortgage can't meet the payments, the lender forecloses on
the home; HUD pays the lender what is owed; and HUD takes ownership of the home. Then
HUD sells it at market value as quickly as possible.
If you have the cash or can qualify for a mortgage, you can buy a HUD home.
Is it true I can get a HUD Home for a dollar?
Answer: No. HUD sells homes at market value - that means that the price is set based on
the price of similar homes sold in the area.
HUD Homes are sold "as-is," without warranty. That means that HUD will not pay to correct any problems. But even if a HUD Home needs fixing up it can be a real bargain! For example, HUD's asking price on the home will reflect the fact that the buyer will have to invest money to make improvements. HUD might offer special incentives such as an allowance to upgrade the property, a moving expense allowance, or a bonus for closing the sale early. And keep in mind that on most sales, the buyer can request HUD to pay all or a portion of the financing and closing costs.
When you buy a HUD Home, the selling agent's commissions are usually paid by HUD. HUD will pay a total sales commission of up to 6%.
HUD Homes for Sale - Nevada |
| Case Number | Address | City | Bed/Bath | Price | Codes* |
| 331-089574 | 698 BOYD DRIVE | ELKO | 3/1.00 | $92,000.00 | N |
| 333-000732 | 114 S BAYTREE DR | ELKO | 3/2.00 | $68,500.00 | N |
| 332-242143 | 517 CHELSEA DR | HENDERSON | 3/1.50 | $92,000.00 | N |
| 332-268569 | 623 EVERGREEN ST | HENDERSON | 0/0.00 | $125,000.00 | N |
| *Codes: SF=Single Family; TH=Townhouse; CO=Condominium; LBP=Lead Based Paint MAY be present because the home was built before 1978; N=No Code. | |||||
.In most cases, you can obtain a loan from VA to purchase one of these homes, regardless of whether your are a veteran.
IRS lists real-estate, but has a lot more personal property
Porsche, Bedroom furniture and other property
Description: 1985 Porsche, 2-door, VIN WP0AA0948FN452149, License MVY-43G, odometer
45,537, brown and black. Also bedroom furniture and other property.
Minimum Bid: Minimum bid not yet announced
Date of Sale: January 23, 1999
Time of Sale: 10:30 AM
Place of Sale: 1420 HWY 685, Pflugerville, TX 78660
Property may be inspected at: From 10:00 AM to 4:00 PM on 1/22/98 at
Houses, Farm Land, Apartments,
Restaurant/Lounge, Office Buildings, Hotels, Motels, Industrial Etc.5841 NW 15TH COURT
| Property Type: | Single Family House | Market Price: | $ 82,500 |
| Sales AO: | Xxxxx, Xxxxxx | Broker Contact/Phone: | Xxxxxxxxxxxx (800) 568-xxxx |
| Property Address: | 5841 NW 15TH COURT SUNRISE FL, 33313 |
FDIC Contact/Phone: | FIELD OPERATIONS (800) 568-xxxx |
3 BEDROOM / 1 BATH; 1,320 SQ F
| Property Type: | Single Family House | Market Price: | $ 9,900 |
| Sales AO: | Xxxxx, Xxxxx | Broker Contact/Phone: | Xxxxxxx, Xxxxxx (860) 291-xxxx |
| Property Address: | 918 TULIP ST CAMDEN NJ, 08103 |
FDIC Contact/Phone: | Xxxxxxxxxx (860) 291-xxxx |
| Property Type: | Farm | Market Price: | $410,000 |
| Sales AO: | Xxxxxx, Xxxxx | Broker Contact/Phone: | Xxxxxxx (800) 568-xxxx |
| Property Address: | HILL TOP RANCH CARTHAGE TX, 75633 |
FDIC Contact/Phone: | FIELD OPERATIONS (800) 568-xxxx |
The U.S. Small Business Administration acquired property while administering its loan programs, and it is available for purchase by the public. The property ranges from real estate - commercial property, single family homes, vacant land and farms - to personal property such as machinery, equipment, furniture, fixtures and inventory.
Residence located at 11521 Radcliffe Avenue, Modesto, CA 95358.
This property located in the western section of Modesto, is a one story stucco ranch built in 1978. The house contains 3 bedrooms, 2 baths, 2 car garage and patio. The house is average condition and has all services and conveniences within a normal distance. The house contains 1,400 sq. ft. of gross living space and with 6,528 sq. ft. lot size. The property is generally in good condition and could be an excellent investment/income producing property. This can be yours for the asking price of $80,000. For additional information, please contact Bonnie at (209) 487-xxxx. The reference loan number is 447 085 30.
GSA sells most all of the surplus Government real estate.
WASHINGTON PROPERTIES |
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| A= | Westport, WA (203 South Montesano Street) | #WA376 |
| D= | 1,664 sq. ft. restaurant building, built in 1954. 8,960 sq. ft. lot, includes parking, formerly Rich's Family Diner. Parcel #105507201100 real property & C001556, personal property includes restaurant equipment. | |
| MBP= | $45,500 subject to delinquent property taxes $4,200 (Property Value=$83,400) | |
| X= | 01/22/99 | |
| A= | Port Townsend, WA (70 Madronna Beach Dr.) | #WA381 |
| D= | .9 acres, 122 feet salt water frontage, with house built in 1940, main floor 1,378 sq. ft., basement 712 sq. ft., 896 sq. ft. deck, 4 bedrooms, 2 baths. Parcel #901-081-009 | |
| MBP= | $196,400 subject to delinquent property taxes $15,000 (AV= $225,000) | |
| X= | 09/17/99 | |
OREGON PROPERTIES |
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| A= | Portland, OR (11813 SE Ankeny) | |
| D= | Single Family 1,084 finished sq. ft. house built in 1927, one story with 500 sq. ft. unfinished basement/attic space, 1 bedroom, 360 sq. ft. detached garage. Property tax account #R-85871-2740 | #OR372 |
| MBP= | $72,200 subject to $1300 del. Property taxes (AV=$72,020 FMV=$95,000) | |
| X= | 01/29/99 |
As a prospective home buyer, you have many options in your search to find an affordable home. One of those options today is the purchase of a home that has been foreclosed and is currently owned by Fannie Mae.
Generally, a wide selection of homes, including single-family homes, condominiums, and town houses, located in a variety of neighborhoods throughout a community are available. The number, types, and the sales prices of housing may vary substantially. Many of these homes are relatively new; however, older homes are offered in some areas. Some homes may require repairs.
In addition, you can 'pre-qualify' for a mortgage with a local mortgage lender. The lender will assess your ability to pay for a home by calculating the monthly costs of homeownership and comparing them to your current income.
You can search a list of Fannie Mae-owned properties for sale on this site.
| Price | Address | Broker Information | Property
Type / REO ID |
|---|---|---|---|
| $ 57,500 | 500
CYPRESS STREET BAKERSFIELD, CA 93304 (view map) |
Xxxxxxxx (805) 334-xxxx |
SingleFamily L988494 |
| $ 28,500 | 2106
PACIFIC AVENUE BAKERSFIELD, CA 93305 (view map) |
Xxxxxxxx (805) 665-xxxx |
SingleFamily L985997 |
| $ 74,500 | 3301
COLUMBUS ST. 6 BAKERSFIELD, CA 93306 (view map) |
Xxxxxxxx (805) 334-xxxx |
SingleFamily L985890 |
Freddie Mac has instituted the Home Values Program and also now sells their homes under a different name. When possible they repair their properties fully and offer them to general public for sale at very reasonable prices. In almost all cases they can provide financing with only five percent down waiving any mortgage insurance required. It is very easy to buy a Freddie Mac home.
Auctions of damaged or unclaimed items are held periodically at Mail Recovery Centers.
The U.S. Marshals Service offers property for sale to the public which has been forfeited under laws enforced or administered by the United States Department of Justice, its investigative agencies (Drug Enforcement Administration, Federal Bureau of Investigation, and Immigration and Naturalization Service), and certain other federal law enforcement agencies. More than 15,000 items of forfeited real and personal property are sold annually with gross sales of $75 million. The property offered for sale consists of residential and commercial real estate, business establishments, and a wide range of personal property such as motor vehicles, boats, aircraft, jewelry, art, antiques, and collectibles.
