Welcome to your HUD Home Resource
  HUD (U.S. Department of Housing and Urban Development) Homes, are very competitively priced, and one of the best values on the market!  

Here are answers to some commonly asked questions regarding HUD Homes:

What is a HUD home?

A home that has gone into mortgage default with a loan that is insured by the Federal Housing Administration (FHA) is referred to as a HUD Home. When this occurs, the lender takes possession of the property and conveys ownership to HUD. HUD then sells the home through their Asset Management (AM) contractor, such as BLB Resources (located locally in Southfield, MI). A HUD Home can be a single-family house, townhouse, condominium, mobile home or a multiple family attached home up to 4 units.

 Who can purchase a HUD Home?

HUD Homes may be purchased by any individual, company, HUD-approved non-profit organization, or government entity that can secure financing or pay cash for the property.  Interested buyers must submit bids through a HUD-registered real estate agent.  Clients First, Realtors, is an approved HUD Selling Broker.

 What is the Exclusive Listing Period for HUD homes?

When a HUD Home is first listed for sale, priority is given to owner occupants, non-profit organizations, and government entities. The duration of this Exclusive Listing Period will vary depending on the property’s FHA insurability.  Exclusive Listing Periods are mandated by HUD, and are strictly enforced.

 What is the Extended Listing Period for HUD homes?

After the Exclusive Listing Period has expired, unsold properties enter the Extended Listing Period. These properties are available for all purchasers, including investors, until an acceptable bid is submitted.  Bids are reviewed daily.

 How do I purchase a HUD Home?

We Can provide you with a list of HUD properties available in your area, once you you decide on a home

All bids must be submitted through an electronic bidding process submitted through a registered HUD Real Estate agent.  Clients First, Realtors, is an Approved HUD Selling Broker.  Please contact us directly, and we will be happy to help you!  
 

1-800-493-9109 Ext# 1050