Single Family Property Disposition

To sell HUD single family Real Estate Owned (REO) properties in a manner that expands homeownership opportunities, strengthens neighborhoods and communities, and ensures a maximum return to the FHA mortgage insurance fund.

HUD REO properties that are available for sale can be found at www.HUDHomestore.gov. Bids for the general public must be submitted through a HUD-approved real estate agent.

Eligibility depends on the sales period and specific program, but generally includes: Owner-Occupant Buyers • Individuals purchasing the property as their primary residence • Must occupy the home for at least 12 months (standard owner-occupant requirement) • Receive priority during the Exclusive Listing Period ________________________________________ HUD-Approved Nonprofit Organizations • Must be recognized by HUD as an approved nonprofit • May purchase affordable housing, redevelopment, or resale programs • Often eligible for specific programs (e.g., Dollar Homes, GNND partnerships) ________________________________________ Local Government Entities • Cities, counties, municipalities • Eligible for programs such as Dollar Homes • Must use properties consistent with program requirements (e.g., affordable housing) ________________________________________ Public Housing Agencies (PHAs) • May purchase for housing development or redevelopment purposes ________________________________________ Investors • Individuals or business entities purchasing for investment purposes • Eligible only after the owner-occupant priority period expires ________________________________________ Participants in Special Programs • Good Neighbor Next Door (GNND) (law enforcement, teachers, firefighters, EMTs) • Other HUD-authorized revitalization initiatives

Individual, governmental and organizational homebuyers.

HUD Single Family Property Disposition does not provide federal financial assistance or funding awards. The program involves the sale or conveyance of HUD-owned Real Estate Owned (REO) properties. Purchasers use their own financing sources (e.g., private mortgage financing, cash, local or state funds, or other legally available resources) to acquire properties. In certain disposition initiatives (e.g., Dollar Homes), properties may be conveyed at a reduced price in accordance with program requirements; however, this does not constitute a federal funding award. Any subsequent rehabilitation, resale, or redevelopment activities are financed independently by the purchaser and are subject to applicable program conditions.

HUD Single Family Property Disposition does not provide federal financial assistance or funding awards; therefore, restrictions on the use of award funds do not apply. However, purchasers of HUD REO properties must comply with applicable program requirements and sales conditions. These may include: Owner-occupant residency requirements (e.g., 12-month primary residence obligation) Restrictions on resale or transfer during required occupancy periods Compliance with Fair Housing and civil rights requirements For specialized programs (e.g., Dollar Homes or Good Neighbor Next Door), additional statutory or program-specific conditions governing occupancy, resale, or redevelopment These requirements relate to property conveyance terms and conditions and do not constitute restrictions on federal financial assistance funds.

Annual.

HUD Single Family Property Disposition does not involve proposals for federal financial assistance. Instead, HUD evaluates purchase offers submitted for HUD Real Estate Owned (REO) properties in accordance with established sales procedures and program priorities. Offer selection is generally based on: Purchaser eligibility category (e.g., owner-occupant priority period vs. investor period) Net return to HUD (acceptable offer price after consideration of allowable costs and commissions) Compliance with program requirements, certifications, and occupancy obligations Timely and complete submission through a HUD-registered broker During exclusive listing periods, eligible owner-occupants, nonprofits, or governmental entities may receive priority over investors. Once the exclusive period expires, properties may be available to all eligible purchasers. These criteria relate to property sales evaluation and do not constitute a competitive federal financial assistance selection process.

HUD Single Family REO Disposition Programs do not operate on a fixed application approval cycle. Purchase offers are reviewed on a rolling, transactional basis during the applicable property listing period. Approval or rejection of an offer typically occurs after the close of the listing period in which the offer was submitted. Timeframes may vary depending on the specific sales program and property, but generally occur within several business days following the offer review period. HUD Single Family Real Estate Owned (REO) Disposition Programs do not involve applications for federal financial assistance. Instead, interested purchasers submit purchase offers for specific properties in accordance with HUD's established sales procedures. Offers must be submitted electronically through a HUD-registered real estate broker within the applicable listing period. HUD reviews submitted offers to verify: • Purchaser eligibility (e.g., owner-occupant, nonprofit, governmental entity, or investor status) • Compliance with required certifications and occupancy commitments • Completeness and timeliness of submission • Acceptability of the offer based on net return to HUD During exclusive listing periods, priority consideration is given to eligible owner-occupants and certain nonprofit or governmental entities. If no acceptable offer is received during the priority period, the property may become available to other eligible purchasers.