HUD home search
Real Living Georgia Life Realty is a HUD Local Listing Broker
770-456-2600 call or click now! Click the photo of the HUD home to search for HUD properties
Did you know that some HUD properties are available for sale for only $100 down?
What is a HUD property? A HUD property is a home that the previous owners had obtained an FHA mortgage and defaulted on the mortgage. FHA, the Federal Housing Administration, guaranteed the loan, so when the borrowers defaults the property becomes government owned.
These homes are known as HUD homes, homes owned by the US Department of Urban Housing Development. These homes are sold under management of Asset Management Companies and with the help from Local Listing Brokers. Real Living Georgia Life Realty is a HUD Local Listing Broker under contract with the Sage Acquisitions LLC.
What do you need to know to purchase a HUD home?
HUD properties have financing classifications listed as follows
IN= Insurable, these properties are insurable in their current condition
IE= Insurable with repair escrow.
UI= Uninsurable, these properties require repairs estimated to cost more than $5,000; they are not eligible for an FHA-insured loan, unless a section 203(k) loan can be arranged.
To review the forms used to in the contract to purchase a HUD home click the photo below.
If you would like to view or make an offer on a HUD property, remember you need a HUD Registered Selling Broker.
Real Living Georgia Life Realty is a HUD Registered Selling Broker.
For more information on HUD Registered Selling Brokers and information on how to become a HUD Registered Selling Broker click "find a broker tab" on the HUDhomestore.com website