HUD Property Mangement
MCB is a Marketing and Management contractor for the US Deparment of Housing and Urban Development. To view available HUD properties for sale select your state from the bottom right hand corner.
About HUD Homes
What is a HUD Property?
When someone with a Federal Housing Administration (FHA) insured mortgage can't meet the payments, the lender forecloses on the home; FHA pays the lender what is owed; and then the United States Department of Housing and Urban Development (HUD) takes ownership of the home. Then HUD sells it at market value as quickly as possible. Michaelson, Connor & Boul (MCB) is a Marketing and Management contractor for HUD 1 to 4 unit residential properties. MCB maintains and sells these properties in accordance with HUD guidelines. We know you may have several questions regarding the purchase of a HUD property. "We want to provide you with as much information as possible to assist you with your purchase."
Who Can Purchase a HUD Property?
Any individual who can qualify for a mortgage or who can pay cash may purchase a HUD home. Purchasers must use a broker or agent who is registered with HUD to place a bid on a property. Purchasers must also have a pre-qualification letter from a lender or proof of cash funds in the amount of or greater than the property they are purchasing.
How Are HUD Properties Sold?
All HUD Homes are listed on our website at their "AS-IS" fair market value. Purchasers (with the exception of special program purchasers) must obtain the services of a HUD Registered Real Estate Agent. Agents may submit bids on HUD properties on behalf of their buyers. The bid that meets the acceptable threshold and has the highest net to HUD receives a provisional bid acceptance subject to receipt of all required documents. Once a bid is accepted an original Sales Contract Package must be submitted to MCB with 48 hours.