Bidding for HUD foreclosures

Know the procedure to get it right!

How can you bid for HUD foreclosure?

  • Find a real estate agent specializing in Department of Housing and Urban Development (HUD) and Veterans Administration (VA) foreclosures.
  • Get a listing of available foreclosure houses from your agent.
  • Ask your real estate agent to prepare Comparative Market Analysis (CMA) for real estate properties in the same area.
  • Compare prices of the houses in the home neighborhood and determine your price.
  • Ask your real estate agent to prepare the bidding form.

Currently, First Preston is the largest private sector contractor for the U.S. Department of Housing and Urban Development’s Real Estate Owned (REO) program. Under this program, First Preston provides total asset management and sales services for thousands of single family properties in two-thirds of the states, marketing them to prospective buyers over a unique Internet-based bidding system.

First Preston also handles REO listings of 20 major banks.

More government foreclosure opportunities…