What do we do for you?

We have assembled a professional team to assist you in buying your home. Whether you're a first time home buyer or a seasoned investor, our real estate professionals will assist you by listening to your goals and providing the most expert knowledge of the home buying process.

Buying a HUD home is a lot different than the traditional method of making an offer on a home and getting an answer back the next day. HUD homes are sold by sealed bid auction, and our team will assist you with each step.

1. Since this is an auction, you will be bidding on the home. The first step is to get you qualified as a bidder.
   • You must have a letter of loan qualification from your lender.
   • Our mortgage professionals know the special programs available to purchase HUD homes. You will be well informed in all areas to avoid unwanted surprises!
   • You need earnest money.
     • For homes UNDER $50,000, the earnest money is $500.
     • For homes OVER $50,000, the earnest money is $1,000.
   • These must be in the form of a cashier's check or money order, made out to the Department of Housing and Urban Development
   • There may be more requirements for certain areas - your GoHUD.com agent will let you know what they are.
2. Determining what to bid.
   • This is where all the training and experience of our GoHUD.com agents is invaluable!
   • You want to win the home but not bid too much or too little. HUD sets minimum acceptable net bids, so bidding too little can make your bid unacceptable. This amount varies, and is not published - yet another reason to have an experienced agent!
   • We train our agents to evaluate the home in many different ways to assist you in creating your bid.
   • What is the home worth in average condition?
   • What will it take to put the home back in average condition?
   • What have similar HUD homes sold for in the past?
   • You will be prepared to make a very competent bid!
   • A winning bid is the highest net bid, or the bid that pays HUD the most. For example, if you ask HUD to pay your closing costs that reduces the net.
   • Many aspects go into the net bid amount. You need an agent that will be able to balance your needs to put together the best bid on your HUD home. AT GoHud.com, we have low lender and agent fees, and we're on your side to explain how to make your bid a winner!
3. Your HUD Realtor places the bid on your behalf.
4. Every home has a Bid Closing Date. Your agent will know within 24 hours of that date whether or not your bid won!
   • HUD does have minimum bid requirements on each home. If no bids meet their criteria during the initial bidding phase, bids will be opened to non-owner occupied bids, and other levels. Please ask your agent if you want to submit a new bid.
5. If you are the one with the winning bid, your agent will have all the details you need regarding closing on your new home. Most of the details are standard, and can be discussed in one of your early conversations.

Our goal is to make the process of buying a HUD home an easy experience. Working with our agents and lenders will put you in the driver's seat for winning a HUD home bid!