Throughout my career I have bought and sold several HUD homes. The Federal US government’s s Department of Housing and Urban Development (HUD) offers low-cost residential foreclosure sales throughout the country. However, the sales process for purchasing such property is considerably more complicated if you were to compare it with buying a house from an individual. Let us see how you can go about purchasing HUD homes as either a personal residence or even for-profit: How Much Would a HUD House Cost? The typical HUD house is appraised at what is considered to be its fair market value. This is partly based on its location. Apart from that, the price of a unit that needs repairs like plumbing or a burner service is also adjusted downward. This is done to reflect the hefty investment that a new owner might have to make if he is going to improve it. This holds particularly true […]Read More
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