In the old days, a HUD home was usually intentionally damaged by homeowners and looked like a big mess. These days you don’t find as many that have been abused. In fact, some have been much cleaner than people living there and trying to resell them. Yes, there are some deferred maintenance items like flooring, HVAC, plumbing, and other expenses just like any other home for sale.
Anyone looking to buy a home can buy a HUD home but certain categories of Buyers have to wait for a period of time to bid on properties.
These are the 5 different categories of the Buyers who are eligible to purchase HUD homes with different incentives and timing:
(1) Owner-occupant (And yes, HUD does follow up after closing.)
(3) Good Neighbor Next Door (GNND) HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home for Law enforcement officers, firefighters, pre-Kindergarten through 12th grade teachers, and emergency medical technicians.
(5) Government Agency
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.