Agents and Buyers, call us at 1-866-238-1695 for all your HUD questions!

A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.

Click here for the Bannock County Idaho HUD Home Inventory!

Simple Steps to owning a HUD Home!:

  • Contact a lender
    • Mortgage lenders will be able to tell you about obtaining an FHA or Conventional loan needed to purchase a home. They will look at your credit score, current employment, income, and debts and help you decide what your price range will be.
  • Contact a Realtor
    • A Realtor is going to help you to understand the current market for the area you are shopping in. All markets are going to be different, and even within the city itself, you will have micro-markets based on the location you specifically may want to be in. A Realtor will help you understand fair market prices, what the neighborhoods have to offer, and what price should be offered on a home your interested in.
  • Do your own Research
    • Start looking online for additional information. Visit to see the local inventory and availability, for a wealth of information, and for additional info on the buying process and local HUD Realtors.
  • Make a Bid
    • Once you have found the HUD Home you love, making a bid is easy! Get with your Realtor, visit, and submit your offer online! Have your pre-qualification ready to go, and be prepared to own a home if HUD chooses your bid! HUD evaluates bids based on the number of days a home has been available, there is a countdown clock on that will tell you when the bids are due.
  • What is negotiable?
    • HUD will negotiate price, closing costs, and the buyer’s agent commission only. Keep this in mind, HUD looks only at the Net Purchase price, this means your offer price minus Realtor commissions and closing costs. If you think you are bidding against other people, sometimes some small adjustments can make the difference. HUD will only pay up to 3% maximum for closing costs, so talk to your lender about closing costs because maybe you don’t need a full 3% and can ask HUD for just a little less!
  • Getting your offer accepted!
    • Congratulations! HUD will notifiy your Realtor that your bid has been accepted by the next business day of the bid deadline. If you get this notice, you will have two business days to get your contract package to MMREM. The contract package will include the HUD Sales Contract, a copy of your earnest money check, your pre-qualification letter, and a few other applicable documents. HUD requires original signatures, so make sure your available to meet with your Realtor and help get the package together. Once HUD receives the documents, they will check for any errors and if there are non, then sign the contract.
  • Can I do an Inspection on my HUD Home!
    • Yes, and in fact HUD encourages and highly recommends you complete a home inspection. On the contract you signed, you were given an option to complete an inspection, HUD provides a 15 calendar day period to complete your inspections on the home before you close. It is recommended that you hire a Home Inspector to help in this process. HUD will give you the opportunity to turn on the utilities (in some cases utilities may not be able to be turned on, your Realtor will discuss this with you before you make an offer), and perform many types of testing on the home. Just keep in mind, you cannot complete any repairs to the home before you own it, so if you find something wrong, you have to make sure your lender will be ok to close before it is fixed (you may have a repair escrow involved).

Agents and Buyers, call us at 1-866-238-1695 for all your HUD questions!

HUD offers another good step-by-step here.