Hud (housing urban development) houses are sold and often a great prices. Hud offers properties differently than other selling agencies.
Here is a little on how most HUD offices deal with the foreclosures.
The first week is own occupied only. There are looking for people who will live in the property for 12 months.
Often the second week of a HUD offering is owner occupied, good neighbor, non-profit and government organizations bids.
The final week is open for investors.
Most Hud bidding for the first week (owner occupied only) if from Friday when most HUD homes are available to the Sunday at midnight one week from then. After the first weeks bidding the bidding is then done weekly usually Monday to Sunday at midnight.
After several weeks of bidding HUD usually opens the bidding to daily bidding.
I say usually because I have found differences in areas / states I have looked at. To find out just how your area works it would be a good idea to ask a HUD associated Realtor in your area.
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