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William Smith
Keller Williams Realty
229 Route 32
Central Valley, NY, 10917
Cell: 845-728-6162
Lic. #: 40SM1053495
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finding gov repossessed homes | Print |

How do you find government-repossessed homes in the Homes for sale in Orange county NY and Rockland County NY area?

The U.S. Department of Housing and Urban Development acquires properties from lenders who foreclose on mortgages insured by HUD. These properties are available for sale to both homeowner-occupants and investors.
You can only purchase HUD-owned properties. HUD will pay the broker's commission up to 6 percent of the sales price.
Down payments vary depending on whether the property is eligible for FHA insurance. If not, payments range from the conventional market's 5 to 20 percent.
One caution. HUD homes are sold "as is," meaning limited repairs have been made made but no structural or mechanical warranties are implied.


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Last Updated ( Thursday, 04 September 2008 )
 
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