Whether you're considering purchasing your first home, an investment property, or just looking for a bargain and don't mind fixing a few things, buying a foreclosure may be the way to go. 

     The Department of Housing and Development (HUD) and the Veterans Administration (VA) sell homes that they have acquired through foreclosures. Home owners who default on FHA insured or VA guaranteed loans, will have their home lender paid off by VA or HUD. HUD and VA will then sell these homes to the public through a bid process. You MUST go through an authorized real estate broker to bid on these homes. We've helped our clients purchase many of these properties under market value and can guide you through the entire process.

     HUD and VA owned homes can be viewed through one of our agents at your convenience. If you find a home that you would like to buy, we will prepare all the needed paperwork, submit a bid on your behalf, and monitor the award process. If your bid is the winning one, we will guide you through the rest of the process from obtaining a mortgage all the way through closing.

     Homes are listed on the VA and HUD list of homes for sale weekly and the homes are available to accept bids for a specific number of days. After that, if the house has not sold, you can bid on homes on the "extended list" at any time. 

     Don't expect the HUD or VA homes to be in market condition. Homes sold by caring home owners are generally in "move-in" condition. However, since the HUD and VA homes have been abandoned by their owners, left vacant for up to a year, they may require a certain degree of decorating once you own the property. The HUD and VA properties are sold strictly "as is" since HUD will do no repairs and VA will make only moderate repairs.

You can obtain more information on HUD and VA foreclosures at the following sites: