Tucson Area HUD Homes

Looking a little closer: "What is a HUD Home?"

A HUD home is a 1 to 4 unit residential property acquired by Housing and Urban Development (HUD) as a result of a foreclosure action on a FHA insured mortgage. HUD homes are initially offered to owner-occupant purchasers (people who are buying a home as their primary residence). Following the priority period for owner occupants offers, unsold properties are available to all buyers, including investors.

HUD REQUIRES BUYERS TO USE AN AUTHORIZED REAL ESTATE AGENT TO MAKE AN OFFER. This is of the foremost importance. Few real estate agents know much about the HUD process. Even fewer are HUD registered to even sell them. Anna-Lise Troup is the perfect choice to help you find a HUD home since he knows the process and is also qualified to sell one. The reason that HUD requires this is that they do not have the manpower to be able to personally show all HUD homes in the nation. And since the HUD process is a very rigid process and items need to be completed in a specific manner, a HUD registered real estate adviser is the perfect choice to buy HUD homes sold for the government.

THERE IS A SPECIAL BIDDING PROCESS WHEN OFFERING TO PURCHASE A HUD HOME. When a HUD Home is put on the market, initial bidders can only be owner occupants (buyers who intend to use the residence as their primary home). The buyer then can place a bid on the property which is a blind bid. All bidders can submit their bids within the first 10 days the HUD home is on the market. On day 10, the bids are opened. If HUD finds one of the bids satisfactory, then that buyer's bid becomes the purchase price. If none of the bids are accepted, the HUD home becomes available for investors as well as owner occupants.

HUD HOMES ARE SOLD AS-IS. When a buyer purchases a HUD home, it is important that they understand all HUD homes are sold AS-IS. Buyers are highly encouraged to hire a home inspector to professionally assess the condition of the home.

HUD OFFERS SPECIAL PROGRAMS TO POLICE OFFICERS, TEACHERS, FIREFIGHTERS AND OTHERS. Some HUD programs offer 50% off of the purchase price of a HUD home.

BUYERS MUST BE PRE-APPROVED FOR A MORTGAGE OR BE ABLE TO PAY CASH PRIOR TO SUBMISSION OF BID. As a winning bidder you will have a deadline of 45 days from successful bid to complete the transaction. If you miss the deadline HUD, can (and in most cases will) cancel your contract and retain your earnest money deposit. As a buyer, you need a qualified real estate agent to be sure you're properly set up to close on time, ensure deadlines are met, inspections completed on time, and that items are submitted in an orderly fashion to complete your HUD transaction.

Realty Executives Southern Arizona is the exclusive listing broker for Tucson and Southern Arizona. To search for available offer HUD homes, please click on the following link: www.mcbreo.com. To submit an offer online or obtain additional information, contact Anna-Lise Troup at (520) 906-5659 or fill out the form below.

Free HUD Homes Information Full Name*: Email Address*: Who or how were you referred to this website?: Your mailing address is needed in case you want to communicate via post. Please fill out the following information precisely so that information can be mailed/emailed to you ASAP. (Please be very specific so Anna-Lise can have all the information she needs to help you.) Address: City: State/Province: Zip/Postal Code: Daytime Phone*: Evening Phone: I am: Buying Selling Both Please contact me by: Phone Email Special Requests/ Comments: (Be Specific) *=Required Field * Your name and email address are required, so please be sure your email address is entered accurately. By submitting this form with your telephone number you are consenting for Anna-Lise Troup and authorized representatives to contact you even if your name is on the Federal "Do-not-call List." Privacy Policy: Anna-Lise Troup will never share or sell your information with anyone... period.