Denver is the largest city in the U.S. state of Colorado and has many HUD homes for sale throughout the year. HUD buys and resells real estate when the agency has taken a financial loss due to a defaulted mortgage insured by the Federal Housing Administration. This is a chance for regular folks and investors to look for a cheap house in Denver. Buyers of Denver HUD homes can find them online with HUD’s own resources. They can then place a bid through a Denver real estate agent in an attempt to purchase HUD homes in Denver.
Denver properties for sale by the agency are listed on HUD’s website. These properties can be found at hudhomestore.com/HudHome/Index.aspx. Just click on Colorado to start and select Denver as the city to do an advanced search for HUD Denver homes.
Although investors are welcome and often do purchase HUD properties, they should keep in mind that HUD reserves certain houses for owner occupants. By choosing “Investor” as the buyer type in the search options, you can find HUD homes in the Denver area that are available to investors.
You now to need to search for and select a Denver real estate broker to perform the bidding paperwork for you. HUD maintains a list of approved brokers and agents on the listings website. Access the proper page by choosing “Find a Broker” and selecting either Colorado for all state brokers or Denver for brokers in the Mile High City.
Now, you will need financing if you do not have the cash to buy a Denver HUD home. Speak to a Denver mortgage lender about your options. You need preliminary approval for a home mortgage loan to present the full bid package to HUD.
Present the loan documents to your Denver broker and any other necessary papers for the bidding package. Get the broker to submit a bid to the HUD Denver officials.
Continue to work with your broker and lender once the bid is accepted. In addition to those individuals, a HUD-approved Denver closing agent will also get involved and have you sign closing papers.
Get a property deed from HUD for each Denver property that you buy from the agency. You also need to file this deed in the recording office in Denver County to make sure you protect your new interest in the Denver HUD home.
HUD Home Listings