New York HUD agency officials provide listings of HUD homes in New York through a free online listings service. These are HUD foreclosures that were purchased by the agency at public foreclosure auctions. Individuals looking for a good deal on New York real estate should explore options for buying a New York HUD home. After looking at the listings and finding suitable properties, a buyer can then find and utilize a New York real estate broker or agent to place bids on HUD New York homes.

Step 1:

 

Make a list of properties that you may wish to purchase by looking at New York HUD home listings. You can find these listings of New York real estate properties by selecting New York on the map at hudhomestore.com/HudHome/Index.aspx. By doing this, you will get a full list of HUD homes located throughout the state of New York and a search tool you can use to narrow down your home search.

 

For example, if you are looking for Manhattan HUD homes, then you could select Manhattan as the city. Refine the search even more based on your personal preferences, budget limits, etc.

 

Step 2:

 

Find a New York real estate broker to place house bids on your behalf. This is necessary because HUD rules require an approved agent or broker to do the bidding, submitting paperwork, etc. You may find such agents by using the website with the HUD homes in New York. From the same main page, select the “Find a Broker” page. Enter New York for a full list of approved brokers or limit your search to specific cities in the state of New York.

 

Step 3:

 

Secure a financing agreement if you need one to pay for a HUD New York home. HUD certainly encourages people who need a mortgage loan to bid on the properties. In fact, you may need a loan preapproval to even get your home bid accepted by the agency.

 

Step 4:

 

Finalize the bid with your broker and have him or her submit the bid to HUD. This could take a while, as you need lots of financing paperwork and other documents to submit a bid.

 

Step 5:

 

It is now up to New York HUD officials to review and accept your house bid. If accepted, you then need to work with your agent, an approved closing agent and your lender to complete your purchase of a HUD home in New York.

 

Step 6:

 

All states use property deeds. In New York, it is imperative that you get a deed from HUD and file it in the New York county of the HUD property as soon as possible to protect your property rights.

 

Sources:

 

HUD Home Listings