Where to find HUD home sale listings in South Carolina
Buying a house from the U.S. Department of Housing and Urban Development (HUD) is a great option for South Carolina buyers of all ages, incomes and backgrounds. HUD is selling thousands of homes that had mortgages insured by the Federal Housing Administration (FHA), a division of HUD. As homeowners are unable to pay these mortgages, the FHA and HUD repay the lender and resell the home.
You can easily browse the South Carolina real estate HUD home listings on HUD’s Home Store site. There, you can set the search criteria by home features, such as the number of bedrooms and bathrooms, property location and price. You can also find HUD-approved real estate agents on the site. It’s important to work with a HUD-approved agent, which will be required when you want to place a bid. The agent can help you bid high enough to get the property.
The HUD home sale listings in South Carolina will include notices when the property is first listed, the price is reduced or the sale requires an enhanced commission fee. Watch the listing period and the bid date, which is when bidding opens on that house. Then you will know when your agent can bid on your behalf and if there are bids on the home already. The HUD home sale listings in South Carolina will include current sales and future sales.
Listings will also indicate who can bid during that period. If the home has an exclusive listing, only owner-occupants can bid. As an owner-occupant, you will be expected to live in the house for at least three years before selling it. When a house is listed in the lottery period, government agencies and nonprofit organizations can bid.
There are many rules and regulations to follow when bidding on HUD home listings in South Carolina. RealtyNow can help South Carolina homebuyers find foreclosed properties and real estate agents to help you through this process.