Ignite FB Tracking PixelBuying a HUD Home Offers These Major Benefits - Shauntelle Henshaw
MarMac Real Estate Coastal
Shauntelle Henshaw, MarMac Real Estate CoastalPhone: (251) 374-6222
Email: [email protected]

Buying a HUD Home Offers These Major Benefits

by Shauntelle Henshaw 05/24/2023

Housing and Urban Development (HUD) properties present unique opportunities for homebuyers. By purchasing a previously foreclosed home, you might save money on the sale and mortgage. But is a HUD home the right choice for you? Here are some of the key benefits to buying a HUD home:

Low Price

HUD wants to recoup the cost of the foreclosure as soon as possible. This translates into lower sale prices. While each property goes through an appraisal process to determine its value, the purchase price is usually under the market average for comparable homes.

Get In Before Investors

HUD homes are sold through auction. The auction process gives special priority to residential buyers by granting them a 30-day period to bid on the home. After that, the auction will open up to investors as well. This head start can help you get a great deal on a home without worrying about an investor taking it at the last second.

Help With Closing Costs

Closing costs are a major expense when buying and selling a home. As an incentive to homebuyers, HUD spends a certain percentage of the home's purchase price to help cover closing costs. This can save a homebuyer thousands of dollars compared to buying a traditional home.

Lower Down Payments

With financing, buying a HUD home is like a traditional home purchase. You can choose from many loan options and mortgage providers. In certain circumstances, buying a HUD home means getting a loan with a smaller down payment. HUD wants to sell the property as soon as possible, so they offer options for low down payments to encourage new buyers.

If you're considering a HUD home, keep these benefits in mind. While it might not be the right choice for every situation, for many homebuyers, the incentives and special perks can greatly outweigh possible drawbacks. 

About the Author

Shauntelle Henshaw

Hi, I'm Shauntelle Henshaw and I'd love to assist you. Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. I'd be honored to put my real estate experience to work for you.

In my previous years, I graduated from Vintage High School in Napa and attended UC Davis majoring in Human Development. I was a Professional Organizer and Home stager for 20 plus years. That expertise comes in handy when listing my clients homes.

I fell in love with Real Estate years ago. Always wanted to sell Real Estate but had a busy family life with three children and now 4 grand sugars. My children are nearly grown and I get to put my expertise of cleaning, staging, buying and selling, escrow and administration in Real Estate offices to work.

The driving force behind loving Real Estate is I moved around frequently, as a child and never really having a place to call home, My desire has always been to unluck the doors and help everyone find a place to call home.

How did I choose The Gulf Coast? I chose the Gulf Coast because of the nearly 30 miles of white sandy beaches. The long hot days and the energy at the beach always contagious. Snow cones, fresh fish,turtles hatching, the waves, the houses on stilts, the sand in my shoes, laughter and the friendships I have made will last a life time. 

For service beyond the sale, call me!