Columbus HUD Homes

With the number of foreclosures at an all time high in Central Ohio, the federal government is becoming a major owner of real estate.  When a bank forecloses on an FHA loan and repo’s the house, Uncle Sam becomes the home owner, because the government agreed to insure these loans.

Not surprisingly, lots of homes end up in the hands of the government these days. HUD must liquidate these “non-performing assets” to recoup some of the money.  HUD tries to sell these properties as quickly as possible, usually at a substantial discount to the buyer.

Columbus HUD Homes offers a great opportunity for home buyers and investors to get into a nice house for below market value. Sometimes HUD Homes are less expensive than bank owned REO properties or even Bank Shortsales.  Many HUD Homes are in very good condition and need just a little paint and carpet to look like new.

There are other reasons why you should consider buying a HUD Home.  Most importantly, they can be purchased with FHA loans for as little as $100 out of your pocket.  This is a really super deal, because most banks require 20% down these days. There are special FHA loans for buying properties that need some work and offer the buyer rehab financing.

In summary, you can buy a Columbus HUD Home

• with no money out of your pocket
• at 10% – 20% below market value, and
• FHA will even loan you money for the rehab.

Before you make an offer to HUD you will need to work with a specialized HUD Home Realtor, someone who is authorized to submit bids for these homes. There is a lot of paperwork involved and you can’t bid as an individual. The government will reject offers even with minor errors in the paperwork. 

On this website you will find all the latest news about HUD homes, how to buy and finance them, and how you can get a killer deal in this slow real estate market. Come back often to learn more about this unique, once in a life time opportunity and register for our newsletter with the newest Columbus HUD Homes displayed on a map, featured properties and lots of useful information for buying your new home.

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS 
Specializing in HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650