Disclosures When Bidding On A HUD Home
As-Is Sales: HUD Homes are sold "As Is" without warranty.
Irregularities in bids: HUD reserves the right to waive any irregularity in any bid, reject any and all offers, and to withdraw a property prior to the bid opening.
Code and Zoning violations: Properties may contain code and/or zoning violations. Code and Zoning status must be determined by the Purchaser.
Property Condition: No guaranties and/or warranties made. No repairs will be performed by HUD after closing. Purchasers are encouraged to have the properties inspected by a qualified home inspection service company to satisfy themselves as to the condition of the property.
Potential Purchasers: Contact a HUD Approved Broker to obtain a copy of the current listings, to visit listed homes or to make an offer. HUD pays closing cost up to 3% of the purchase price, IF inserted on line 5 of the HUD Sales Contract when the electronic bid is submitted. This request will reduce your bid's net to HUD which may be considered in a competitive bidding situation.
- Frequently Asked Questions About HUD Homes
A list of questions frequently asked about the process of buying or selling a HUD home. See if your question is listed!
- Successfully Selling HUD Homes-Agent Training Offered By Wilmoth Group
The new HUD selling process is different and if you are a Realtor who wants to be able to represent a buyer for a purchase of a HUD home...you need to be informed. Trainings offered monthly.
- Bidding On HUD Homes
Learn all about the different property classifications, bidding rules and the process for submitting a bid electronically at HUD HomeStore.com.
- Tips For Completing A HUD Sales Contract
The following is a collection of tips and advise to assist agents when completing a HUD Sales Contract (also known as a HUD-9548).
- Getting Your HUD Contract Closed
Congratulations! Your HUD bid has been accepted and you just received your ratified (executed) contract package from the HUD asset manager. Here are some helpful tips to a successful closing!
- HUD Special Programs
If you are considering purchasing a HUD home, or if you are a Realtor representing a buyer of any kind, you need to know about the special HUD programs including $100 down payment homes!
- Forms You May Need
Here is a list of forms commonly used when documenting a bid or following up on an accepted bid. Includes Utility Activation and De-Winterization Requests.
- Contacts Regarding HUD Sales
Here is a list with different contact information for the Asset Managers, Field Service Managers and Closing Agents serving Indiana and Florida for HUD home sales. Also HUDHomestore.com.
- Resource Center
If you are a buyer or an agent seeking to learn as much as you can about purchasing or selling a HUD home, here is a compilation of additional information you may want to review.