Welcome to The Hanover Group at KW®
Southern California HUD Home Sales in Los Angeles, Orange, San Bernardino & Riverside Counties:
We specialize in the selling of all types of Southern California Real Estate including HUD and Bank Owned Homes. Please contact us for a customized list of available HUD homes for sale that meet your criteria.
Additional Southern California HUD Homes Information
Finding up-to-date, real Southern California HUD Homes can be difficult. There are many websites out there that will offer you a “list” of HUD Homes and leave it at that. Chances are, these lists are un-researched, out-of-date and un-reliable. Contacting us directly is the best way to stay up to date with the most current real estate deals available!
Click Here to find out: HOW TO BUY A HUD HOME:
To see current HUD homes for sale in your community, visit HUD Homes and click on your state to begin your search.
What is a HUD Home?
A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.
Who Can Buy a HUD Home?
Almost anyone! If you have the cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.
Should I Get a Home Inspection?
HUD does not warrant the condition of its properties and will not pay for the correction of defects or repairs. Since the new owner will be responsible for making needed repairs, HUD strongly urges every potential homebuyer to get a professional inspection prior to submitting an offer to purchase.
What About Financing?
HUD does not provide direct financing to buyers of HUD Homes. Buyers must obtain financing through either their own cash reserves or a mortgage lender. If you have the necessary available cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. While HUD does not provide direct financing for the purchase of a HUD Home, it may be possible for you to qualify for an FHA-insured mortgage to finance the purchase.
Does FHA Offer Any Special Discount Sales Programs?
FHA REO properties located in designated Revitalization Areas are available at a reduced sales price to law enforcement officers, teachers, firefighters, emergency medical technicians, nonprofits and local governments. Read more about these Good Neighbor Initiatives. You can also view maps of REO properties and special programs such as Revitalization Areas with HUD’s Single Family Home Locator.
About Dollar Homes
HUD’s Dollar Homes initiative helps local governments to foster housing opportunities for low to moderate income families and address specific community needs by offering them the opportunity to purchase qualified HUD-owned homes for $1 each.
Dollar Homes are single-family homes that are acquired by the Federal Housing Administration (which is part of HUD) as a result of foreclosure actions. Single-family properties are made available through the program whenever FHA is unable to sell the homes for six months.
By selling vacant homes for $1 after six months on the market, HUD makes it possible for communities to fix up the homes and put them to good use at a considerable savings. The newly occupied homes can then act as catalysts for neighborhood revitalization, attracting new residents and businesses to an area.
Local governments can partner with local nonprofit homeownership organizations or tap into existing local programs to resell the homes to low- and moderate-income residents of the community.
To find out if properties are available for sale in your community, visit HUD Homes and click on your state.
First Time HomebuyersCommon HUD Terms & Acronyms
RESPA – Real Estate Settlement Procedures ActFAQ