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HUD Homes

PMZ can help you purchase a HUD home. Our HUD Specialists will assist you every step of the way. Your PMZ Specialist will help you get prequalified for a loan, update you as homes become available, assist you in the bidding process, and guide you through escrow.

About HUD Homes
What is a HUD Home?
A HUD home is a property that has been previously purchased with an FHA loan and has been foreclosed on due to default on the loan.
How do I purchase a HUD Home?
Your HUD registered PMZ representative can help you through the process. Here are a few things to note:
  • You must be pre-approved before making a bid on a HUD home.
  • Earnest Money Deposit: Price under $50,000 =$500; Property Price $50,001 & up = $1,000. Certified funds (cashier's check or Postal Money Order ONLY) to be made payable to BUYER OR HUD (both names on check). If more than one buyer is listed on check, all full names must be separated by the word "OR".
  • Bids are taken in a specific time frame. Your PMZ representative will assist you in making the bid.
  • The person with the highest net bid to HUD will have the first opportunity to purchase the home.
What are the advantages of buying a HUD home?
  • New list of HUD homes weekly, if available.
  • Low down payments.
  • HUD may assist you with your closing costs.
  • Repair cost on some homes are paid by HUD.
  • Homes are often below market price.
HUD

For additional information on HUD homes, please visit http://www.hudpemco.com/ and http://www.hudhomestore.com/

Frequently Asked Questions about HUD homes can be found here.

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