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James A. 'Jim' Byler
Coldwell Banker Residential Brokerage
Post Road Market Place 318 Main St, Suite 165
Northborough, MA, 01532
Office: 508-449-4026
Fax: 508-449-4026
Lic. #: 9043270 (Massachusetts)
Can I find foreclosed HUD homes Print

Where can you find Boston MetroWest 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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"This website is NOT the official website of Coldwell Banker Residential Brokerage" Coldwell Banker Residential Brokerage, is an Equal Opportunity Company. Equal Housing Opportunity. CBRB is owned and operated by NRT Incorporated. All rights reserved.

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