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Hud Home Information
When it comes to HUD homes for sale in Arizona, turn to Prudential One Realty for all of the information you need.
From advice on how to avoid foreclosure to help searching all HUD homes for sale, I am your expert when it comes to HUD housing in Casa Grande, Maricopa and Phoenix, Arizona.
What is a HUD home?
A HUD home is a home in which the US Department of Housing and Urban Development (HUD) now owns. HUD has a clear title to the home.
This is a very easy process IF you have the right REALTOR working for you.
First, you must be pre-approved for an amount sufficient to the purchase price or if you plan on paying CASH then proof of funds must be available.
Second, all BIDS are placed online for the home you chose. The BIDDING process must be entered onto the official HUD’s website, by a CERTIFIED HUD AGENT, which Team Ortega is certified!!!
Lastly, wait for a response from HUD. If and when you are the successful bidder, we must submit all paperwork with original signatures along with the earnest money to the HUD office in California within 48 hr timeline.
Earnest money will be: $500 if the purchase price is $49,999 or less, or $1,000 if greater than $50,000.
Easy as that!!!
Who can buy a HUD Home?
Anyone who can qualify for a mortgage or pay cash may buy a HUD Home. There are two types of HUD Home purchases: Owner occupants and investors. An owner occupant buyer is a person who will live in the property as their primary residence for at least one year and may not purchase another HUD Home as an owner occupant for two years. Investor buyers are people who purchase the property as an investment or as a second home, or who do not quality as an owner occupant. Owner occupants WILL have priority for the first 30 days then the bidding process is open to all. Investors cannot place bids during the owner occupant bidding priority period.
VIDEO & PODCASTS Subscribe to an RSS Feed of HUD postcasts and webinars: Click Here
HUD LISTINGS CLICK HERE
HELPFUL LINKS Turn to these helpful resources for HUD information and assistance.
Equal Housing Opportunity.
