Dan Rowe ABR CRS GRI
Dan Rowe Realty
911 Balsam Boise ID 83706
HUD Homes For Sale- Boise ID Area
Updated 9/18/20 For the 13th week straight, we have ZERO HUD Houses for sale in Ada/Canyon counties, including Boise, Meridian, Eagle, Kuna, Star, Nampa, Caldwell, Middleton.
Why buy a HUD home? HUD homes are priced to sell quickly and home buyers get priority. Investor bids are only considered after exclusive listing periods for owner occupants; 5 days on uninsured (will not go FHA) and 15 days on insured (will go FHA) properties.
HUDHomeStore -search HUD Homes for sale nationwide by city, county, price and more. All HUD Homes are listed by Realtors in the MLS. However, HUD's website is updated faster when a home is listed, reduced or sold. If you see one of interest ask me for the MLS listing, which has much more detail and usually more photos than what you'll find on HUD's website.
Call me (208)866-3481 for showings or information on any HUD Home in SW Idaho. As a HUD-registered Idaho real estate broker for many years, few agents are more qualified to help you through the process of buying HUD Homes. I will help you view and pre-inspect the home, ensure you are fully informed & prepared with financing in place to submit a bid.
Do You Qualify to Buy HUD Homes?
There are no income limits or special qualifications to buy HUD homes in the Boise area. Any home buyer or investor with a social security number or EIN who can secure financing or pay cash can bid on HUD foreclosure homes. HUD does NOT provide financing on these homes.
Will HUD take less than asking? Yes, but I don't want to give anything away to my competitors. I will say that HUD is more flexible on price than your average home seller. And HUD will pay some of your closing costs, depending on how you write the bid.
Are HUD Homes Risky to Buy?
HUD Homes are, in my non-lawyer opinion, safe as any other home for sale in the Boise area because...
1) Protection from hidden defects- An inspection with photos is available online. You also have 15 days from acceptance to activate utilities, hire your own inspector, and cancel the purchase and get your earnest money back, subject to HUD's approval, should you find major hidden defects. HUD will not allow repairs prior to closing- never ever. This could affect your financing options, depending on the condition of the home.
2) Offers contingent on financing- Should you lose your job or get denied for the loan, you may get some or all of your earnest money back, unlike many auctions that require large non-refundable deposits with no contingencies.
3) All junior liens are wiped out in a foreclosure- no surprises after closing.
4) You also get a warranty deed (the best) and title insurance against future claims for peace of mind on title.
Where do HUDs come from?
HUD homes come from foreclosures on FHA insured loans, which applies to thousands of homes just in the Boise area. After the lender repossession on FHA loans, the lender's claim is paid and the foreclosed property is deeded to HUD, which acts as a holding arm of the government to re-sell the property.
What are HUD homes?
HUD foreclosed homes can be any 1-4 unit residential property in the Boise area financed FHA up to a little over $300,000 including homes, homes with acreage, condos, townhouses and manufactured homes on land. While rare, multi-family or income properties; duplexes, triplexes and fourplexes can also be HUD homes, if previously financed FHA by an owner occupant who was foreclosed on.
Learn more about HUD homes from the source at HUD.GOV and about Buying HUD Homes or contact me- I welcome all questions.