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finding gov repossessed homes |
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How do you find government-repossessed homes in the Palm Springs, California 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.
Questions about Palm Springs, California Real Estate?
Ask us below or Call us Now at 7604167777
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Last Updated ( Thursday, 04 September 2008 )
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