Who Can Buy a HUD Home?
Almost anyone can purchase a HUD home. If you have cash or you qualify for a loan (subject to certain restrictions) you may buy one. All HUD homes are first offered to owner-occupant purchasers. These are people who are buying the home as their primary residence. After the initial period is offered to owner-occupant purchasers, the unsold HUD home is available to all buyers, including investors.
Do HUD Homes have a Warranty?
No. HUD homes are sold "as-is" without a warranty. No repairs will be performed to your home by HUD after the closing. If you are interested in a HUD home, it is highly recommended to have a home inspection by a qualified home inspection company. You should also consider purchasing your own home warranty for unknown pre-existing issues.
Part 2 - Check back periodically for more information on how to purchase a HUD home!
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