Minnesota HUD Homes
For the Minnesota homebuyer, investor, or non-profit HUD homes are a great option. A HUD home is a one-to-four unit residential property acquired by HUD through the result of a foreclosure on an FHA-insured mortgage. HUD has released their listing site called HUDHomeStore (http:www.HUDHomeStore.com). HUD’s entire inventory is listed for the public, brokers, state and local governments, and nonprofit organizations for a centralized location of information. HUD currently has the highest number of inventory of all REO properties. REO properties are real estate owned properties by banks, lenders, or government agencies.
Currently HUD homes are offered exclusively to owner occupants for the first 30 days of the listing period for insured and insured with escrow properties. For insurability information of a specific property, please see the property info tab on HUDHomeStore. An owner occupant is defined as someone who will be using the home as their primary residence for at least 12 months. After the first 30 days, investors are then able to place bids.
HUD homes also make great investment opportunities. Minnesota HUD home investor, look no further! Inventory is changing on a daily basis; there is an average of 270+ properties on the market today. Many HUD properties are considered good “deals.” Being an investor can put money in your pocket by flipping the home or placing a renter in the property.
Buyers do not have to be low-income or first-time homebuyers to purchase a HUD home. Almost anyone can purchase a HUD home. If you have funds available or can qualify for financing, you may purchase a HUD home.
To the Minnesota homebuyer HUD homes and Minnesota HUD home investor, whether you are looking to occupy the home or are looking for an investment opportunity, a HUD home may be just right for you. Check out http://www.HUDHomeStore.com to see currently listed inventory. For more homes and properties see Minnesota Real Estate Today