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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Get pre-qualified with a mortgage lender. Qualifying for a HUD home. Find a HUD-approved agent. No problem!

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

A contingency might be the buyer selling their current house, requiring certain repairs to be made, or obtaining a clean termite inspection. It’s an official form certifying that a veteran has met the terms that qualify someone for a VA loan. Home inspection. Sure, deals can fall apart. Co-borrower. Related Article.