HUD (U.S. Department of Housing and Urban Development)

J. Hill & Associates is HUD compliant.

Auld Castle, Inc. is able to assist Buyers with any HUD owned properties.

HUD – The US Department of Housing and Urban Development is a government agency created to make the American Dream of home ownership a real possibility for everyone. HUD has many programs involving home ownership assistance for low and moderate income families, community planning and development, fair housing and equal opportunity, and home improvement loans. The Housing and Urban Development home page is a rich resource of information.

What is a HUD Home?

When a residential home owner fails to meet her/his payment obligations of a HUD insured loan, the lender completes a foreclosure and ownership is then turned over to HUD. HUD buys the foreclosed home, appraises the value, and then sells it to the highest bidder with the intention of selling it quickly. Towards that objective they often list the property at below fair market value. However, it is important to understand that HUD homes are sold as-is and that no home or property improvements are done prior to the sale.

Still, it’s very possible to find a good bargain when purchasing a HUD property. Just be advised that it is important to pay for a professional home inspection to provide you with a clear understanding of the property’s condition prior to making any offers. It is also advised that you consult with a contractor for estimating any potential repairs found during the inspection.

Buying a HUD Home

Only HUD approved brokers may sell HUD homes and Auld Castle, Inc. is a HUD approved broker. HUD properties are not listed in any of the MLS services but are managed by the state that the property is located in. There are paid services available online where you can perform a national search for these properties by zip code, city, or state, or you can contact us and as a HUD approved broker Auld Castle, Inc. can provide this service for you.