Search for Austin Foreclosures Below is our search tools that allow you to easily search Austin Foreclosures by map. You can also search Austin Foreclosures by County/City, by Address/Zip, by Area, by School District, and by Subdivision. Create an account and save Austin Foreclosures to your SearchSaver for future review. What is the difference between HUD Homes and Foreclosures? Nothing! Another name for a foreclosured home is "HUD Home" and it is defined as a residential property (1-4 units) that has been acquired by HUD after the home has been through foreclosure filings on an FHA-insured mortgage. HUD will become the property owner and attempt to recoup the mortgage writer's loss (FHA) after the formal foreclosure proceedings. How can I buy Austin Foreclosures? Foreclosures are purchased through a blind online auction process, and you need to work with a HUD-registered REALTOR such as myself who is approved to sell HUD Homes and has experience with the HUD purchasing process. Which bids are more likely to win? Bids submitted from buyers who intend to occupy the property have a higher precedence than those from investors. In other words, if an investor and an owner-occupied buyer make the same offer on the same HUD home, the owner-occupied offer will win.
Is there an option period and will HUD makes any repairs? Another important difference in buying a HUD home vs. a non-HUD home is that there is no option period, and all foreclosed homes are sold as-is. HUD will not make any repairs to any foreclosed home they sell.
For more information about buying Foreclosures in Austin and Central Texas, please contact me. |