Buying HUD Homes

A HUD Home is a single family home or other residence that has been foreclosed upon and deeded back to HUD / FHA. Once HUD gains control over the FHA backed home, it sells the property to recover its losses.

HUD Homes are available to almost anyone who qualifies. HUD Homes are initially ofered for sale to buyers who intend to use the property as their primary residence, then if it's not sold, it is offered on the market to real estate investors

HUD Homes are offered to the public on websites that are maintained by HUD approved companies. A real estate broker must be registered with HUD to make an offer and contract on HUD owned real estate. The real estate commission is paid by HUD.

Certain groups are able to get special rates for buying HUD homes, including police officers, teachers and firefighters through the Good Neighbor Initiatives.

- HUD Homes are sold AS IS, without written warranty.
- Some HUD Homes qualify for FHA Loans.

- Once your offer is accepted, you should get a home inspection.

Foreclosures in McKinney TX - The Het Group specializes in McKinney Foreclosures and Collin County HUD Homes in Allen, Plano, Frisco and McKinney.

HUD & FORECLOSURES

FHA Lender Search Engine - Find a Lender backed by the Federal Housing Administration.

About the FHA - FAQs about the FHA.