Lisa Schade

Broker, BS, CDPE, SFR

Q: How Do I Find Government-Repossessed Properties?

 

 

A: The Department of Housing and Urban Development (HUD) acquires properties from lenders who foreclose on mortgages that it insures. These properties are then available for sale to potential homeowner-occupants and investors only through a licensed real estate broker. HUD will pay the broker's commission up to 6 percent of the sales price.

The Department of Veterans Affairs (VA) also acquires properties as a result of foreclosures on VA guaranteed loans. These acquired properties are marketed through a property management services contract with a federal bank that then lists them for sale with local real estate agents.


 

Reprinted with permission from RISMedia. ©2013. All rights reserved.

UA-12953484-1