HUD Homes for Sale in Colorado

Questions people ask about HUD homes in Colorado

How many HUD homes are for sale in Colorado right now?

The grid at the top of this page is the live MLS list: it updates the moment a home lists or closes, and the market stats under it show today's median price.

What is a HUD home?

A home that had an FHA-insured mortgage, went through foreclosure, and is now owned by the U.S. Department of Housing and Urban Development, which sells it through registered brokers on a bid system rather than a normal listing.

Can an investor buy a HUD home in Colorado?

Yes, after the owner-occupant exclusive period (30 days on most listings) if the home is still unsold. Investors pay cash or use conventional financing; the $100 down program is for owner-occupants only.

Do HUD homes sell below market value?

The list price is HUD’s appraised value, and bids come in at, above or below it; HUD reviews net proceeds and accepts bids that meet its threshold, which moves lower the longer a home sits. As-is condition and the repair escrow decide whether the price is a bargain. More: Is a HUD home a good deal?

How do I bid on a HUD home?

Get pre-approved (FHA if you want the $100 down option), tour with a HUD-registered agent, then the agent submits the bid on HUD’s system by the deadline with your earnest money. HUD answers within two business days. More: How to buy a HUD home, step by step.

What financing works on a HUD home?

FHA on homes coded IN or IE, conventional or cash on any, VA where the home passes the VA appraisal, and the FHA 203(k) rehab loan when repairs exceed the escrow limit. More: Financing a Colorado home.