Las Vegas HUD Homes

Posted by The Natale Group in | 0 Comments

Jul

What is a Las Vegas HUD Foreclosure?

A Las Vegas HUD home is a residential property up-to 4 units that was previously purchased with an FHA-insured mortgage. As a result of that specific property going to a foreclosure sale; the U.S Department of Housing and Urban Development better known as HUD is now the owner of the property. In an attempt to recover some of their losses, HUD lists the homes for sale through the GLVAR MLS system with local Realtors.

Who can purchase a HUD home in Las Vegas?

Practically everyone! You will need to have cash or qualify for a new purchase money loan. Beyond that there are some minor restrictions on the process. When the homes first hit the market they are offered to owner occupied buyers only for a short time. After that period, all buyers including investors can place a bid on the property.

How do I make an offer on a HUD home in Las Vegas?

To place a bid on a HUD listing you must use a licensed registered Realtor to assist in the process. Only brokers can place the bid with HUD. Please contact us when you are ready to place the bid.

Have more questions?

Here is a link to HUD’s frequently asked questions.

Find a Las Vegas HUD home

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