What is a HUD home?

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A HUD home is a home that has been foreclosed on and is owned by the Department of Housing and Urban Development.  These homes can only be purchased by way of a bidding process through HUDHomeStore.com.  You MUST have real estate agent representation to bid on a HUD home.

Owner/occupants have been granted the first opportunity to bid on HUD homes (typically the first 15 days the property is on the market).  If your bid is accepted, the rest of the process runs fairly similar to a traditional purchase – save one thing – you, as the buyer, have to pay the property management company to turn the utilities on for the inspection.  This typically runs $150 and must be paid in the form of a cashiers or certified check.

My last recommendation?  RE-KEY, RE-KEY, RE-KEY!!!

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