Get pre-approved for an FHA203k loan. This type of loan allows you to finance the repairs into the mortgage. Then find an experienced agent who does HUD homes. I can refer you to someone if you like. The Realtor makes an online bid for you. If accepted you have 2 days to complete the paperwork. The written paperwork and earnest money deposit have to be overnighted to the HUD office.
Hi Mai, Gail Foster Century 21 TREC. My company lists many HUD homes in the area and most of our Realtors are very knowledgable on the HUD process. Feel free to give me a call to discuss your HUD interests.
You don't bid on them, you make an offer. Any home listed can have an offer made to the owner, in your case the owner is a bank (HUD). Find yourself a Realtor to work with you that has bank owned home experience and ask them to make an offer on a home for you. You will need to visit a loan officer because a bank will require that you have a pre-qualification letter from a lender to go along with any offer.