HUD Home Store
Visit HUDHUD Home Store is the official sales channel for residential properties owned by the U.S. Department of Housing and Urban Development. When homeowners default on FHA-insured mortgages, HUD acquires the properties and lists them for sale through this platform. The site specializes in single-family homes, condos, and multi-unit residential properties across the country. Most listings are foreclosed homes that HUD has taken ownership of, though occasionally other government agencies contribute properties to the platform. Bidding works through sealed-bid auctions and open listings. Some properties use an invitation-only bidding period for owner-occupants before opening to investors, which gives homebuyers a chance to purchase before larger buyers enter the competition. After the initial owner-occupant period closes, properties open to all qualified bidders. To bid on HUD Home Store, you'll need to register as a user and get pre-approved. The approval process verifies your identity and financial capacity to complete a purchase. Different properties may have different bidding rules, so always review the specific listing details. HUD properties typically sell below market value, making this platform attractive for both homebuyers and real estate investors. However, homes are usually sold as-is with no inspections or warranties. Serious bidders should budget for inspections before submitting an offer. Many HUD properties require earnest money deposits, which are typically 5-10 percent of the bid amount. Closing timelines vary but generally fall between 30-60 days after bid acceptance.
Frequently Asked Questions
How do I register to bid on HUD Home Store properties?
Visit hudhomestore.gov and create an account with your email address and password. You'll provide personal information including your name, address, and phone number. For sealed-bid properties, you may need to upload proof of funds or a pre-approval letter from a lender. HUD typically reviews registration within 1-2 business days. Once approved, you can view all available properties and submit bids during the open bidding period for each listing.
What payment methods does HUD Home Store accept?
HUD requires earnest money deposits via cashier's check, wire transfer, or certified check. The amount varies by property but is usually between 5-10 percent of your bid. Once your bid is accepted, you'll need to secure financing through a mortgage lender or pay cash at closing. HUD does not accept personal checks for earnest money, and wire transfers must come from accounts in your name.
Are HUD homes sold as-is, and what about inspections?
Yes, HUD Home Store properties are sold as-is without warranties or guarantees. You're responsible for arranging your own home inspection before placing a bid. Many HUD listings include an inspection period of 5-10 days after your bid is accepted, during which you can conduct a professional inspection. If you discover major issues, some properties allow you to back out, though you may forfeit your earnest money depending on the property terms. Always review the specific inspection contingencies listed for each property.
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