Hud takes ownership basically after the bank forecloses and claims the loss, title is then transferred. An agent is assigned to have the property inspected, monitored and maintained. I personally dont believe there to be any more or less risk than in purchasing a bank owned property.

If you are interested, go to their website HUD.gov and you can search for properties on-line. There is even an inspection report attached to the listings. We are a hud-approved office, so let me know if we can be of any assistance.

Dawn Smith
Chanel Realty
561-962-2746

Hi Barry,

Make sure you get a home inspection and remember when financing a home owned by HUD the minimum required down payment is $100!

Good Luck,

Lindsey

HI Barry,
There are no more or less risk from buying a HUD owned property then buying a bank owned. You will have to make sure there is clear title etc. As far as the price it will again go back to how much was owed on the property.
Happy Searching

Melissa Antenucci
561-417-9221
Ameritrust Mortgage Associates