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properties
for sale
How
can I subscribe?
Subscribe
to receive an electronic Invitation to Bid on each multifamily property
as it is advertised for sale, as well as immediate notification
of any sale change or cancellation. Go to www.hud.gov
and click on the text link "mailing lists" located
at the bottom left of the page. Then scroll down alphabetically
to select the "Multifamily Property Disposition Mailing List",
and key in your e-mail address.
What
is a multifamily property?
Multifamily
properties consist primarily of rental housing properties with five
or more dwelling units such as apartments or town houses, but can
also be nursing homes, hospitals, elderly housing, mobile home parks,
retirement service centers, and occasionally vacant land.
Why
does HUD have property for sale?
HUD's
Federal Housing Administration (FHA) has programs which insure mortgages
or provide direct loans on multifamily properties. When a mortgagor
defaults on a loan insured by FHA, the mortgagee can assign the mortgage
to HUD and receive the benefits of the FHA mortgage insurance. The
mortgage then becomes a HUD-held mortgage and if the mortgage cannot
be reinstated, HUD Multifamily Property Disposition forecloses on
the property.
What
is Multifamily Property Disposition?
Multifamily
Property Disposition is the program through which HUD forecloses
on HUD-held multifamily mortgages, sells HUD-owned multifamily properties,
and manages HUD-owned properties and properties where HUD is mortgagee-in-possession.
When
does HUD offer multifamily property for sale?
HUD
offers multifamily property for sale at the time of foreclosure
on a HUD-held mortgage. Some HUD-owned properties are also available
for sale to the public.
I've
seen your weekly listing of multifamily property for sale - - now
what?
Obtain
the Free Info and Bid Kit for each property that you are
interested in. If you have any questions, after reading the information
that you receive, contact the Realty Specialist assigned.
What
are some of the general terms and conditions for these sales?
Properties
are sold competitively, all cash, no financing or mortgage insurance
provided. All
sales require an earnest money deposit. Some
properties are sold with repair or demolition requirements within
a set period of time.
I
have some general questions about multifamily property sales - -
who can answer them?
If
you have general questions or comments about multifamily sales,
write our webmaster.
properties
for sale
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