Understanding the Listings

General Information About Each Property Listing

  • HUD Homes are sold without warranty or "as is." No guaranties or warranties are made as available properties are in a variety of conditions and the buyer is agreeing to purchase the property in its existing condition.
  • Because HUD homes are sold "as is," buyers are strongly encouraged to get a home inspection by a qualified home inspection company to evaluate the condition of the property and make an informed purchase.
  • You may search based on specific criteria such as City, County, Property Address, Zip Code, Price Range, and/or FHA Case Number.
  • Properties are listed at Fair Market Value based on the determination of a licensed FHA appraiser.

Property Listing Codes

IN - Insured: These properties are eligible for FHA financing under Section 203(b) of the National Housing Act Program. The purchaser works with an FHA lender to negotiate the loan terms and interest rate. The mortgage may also include mortgage insurance.

IE - Insured with Escrow Repairs: These properties need certain repairs or improvements which are required to meet Minimum Property Standards for an FHA mortgage. These repairs cannot exceed $5,000. These properties can qualify for FHA Section 203(b) mortgages if the purchaser and lender establish a repair escrow at closing which requires the completion of repairs within 90 days of the closing. Otherwise, purchasers of these properties have the option to purchase the properties "as-is" with cash or conventional financing.

UI - Uninsured: These properties need certain repairs or improvements which are required to be repaired to be eligible for an FHA 203(k) rehabilitation mortgage. These repairs exceed $5,000. These properties can qualify for FHA Section 203(k) mortgages if the purchaser and lender establish a repair escrow at closing which requires the completion of repairs within 90 days of the closing. Otherwise, purchasers of these properties have the option to purchase the properties "as-is" with cash or conventional financing.

Each Property Will Contain the Following Information

  1. FHA Case Number
  2. Address & Zip Code
  3. List Price
  4. FHA "AS-IS" Appraised Value and appraisal date
  5. Year Built (Note: For properties built prior to 1978, a lead based paint addendum will be required to be submitted with sales package)
  6. Square Footage of the property
  7. Number of bedrooms and bathrooms
  8. Listing Date
  9. Status of property for bidders (i.e. Owner-occupant period or open to all bidders)
  10. Deadline for bids last day by 11:59pm
  11. Escrow Amount: if property is listed as insured with escrow repairs then this is the amount of the repair escrow. This amount includes the 10% contingency.
  12. Lead based paint addendum for properties built prior to 1978
  13. Copy of Property Condition Report
  14. Notes about property