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The answer to that question is yes, but you must be pre-approved. Some of the people that often purchase HUD foreclosed homes are teachers and police because they can receive a discount of 50% off the listed price. Real estate investors also like to buy HUD foreclosure properties, because they can fix them up and sell them at a higher price. Other people in the lower and moderate income brackets are attracted to HUD foreclosed homes by the cheaper price so that they can afford a bigger home for their family.
HUD foreclosure homes can only be bought through a real estate agent that is approved by the U.S. Department of Housing and Urban Development. E-ForeclosureSearch.com can assist you, not only by providing you with an extensive foreclosure listings database of HUD homes in your area, but also by letting you know which real estate agents are HUD approved. Approved agents can submit bids any day of the week, and also on holidays. All bids are reviewed by HUD, and within a short time, the highest bid is usually accepted as the winning bid.
If your bid for a HUD foreclosure home is accepted, your real estate agent will be notified within 48 hours. You usually have between 30-60 days to settle and close, which also includes arranging financing. If you cannot close within that time frame, you must file an extension or your earnest money will be forfeited. There are thousands of HUD foreclosure properties in our database. Start searching them!
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