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    Dudley Chapman
    HRC Properties, LLC
    124-B1 E. Broad St.
    Falls Church, VA, 22046
    Office: 703 517 7422
    Email Us
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    Can I find foreclosed HUD homes PDF Print E-mail

    Where can you find Alexandria area foreclosed HUD homes?

    The U.S. Department of Housing and Urban Development acquires properties from lenders who foreclose on mortgages insured by HUD. These properties are available for sale to both homeowner-occupants and investors.
    You can only buy HUD-owned properties through a licensed real estate broker, whose commission will be paid by HUD.

    Down payments vary depending on whether the property is eligible for FHA insurance. If not, payments range 5 to 20 percent. When the property is FHA-insured, the down payment can go much lower. Each accepted offer must be accompanied by an "earnest money" deposit equal to 5 percent of the bid price not to exceed $2,000, but not less than $500.
    You should be aware that HUD homes are sold "as is," meaning limited repairs have been made but no structural or mechanical warranties are implied.


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    Last Updated ( Thursday, 04 September 2008 )
     
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