If a property for sale says ';HUD home, sold as is, Elect. bid only'; are there any red flags here?

I know what H.U.D. stands for, but I do not know what it means in terms of buying a house. Elect. bid probably means electronic bid. Is this a bad thing? Thanks


(i always chose best answer)If a property for sale says ';HUD home, sold as is, Elect. bid only'; are there any red flags here?
H.U.D. means Housing and Urban Development , This homes are sold as is, they do not warrant the conditions, this home are bank owned. This homes are usually purchased by investor's they are considered fixer uppers , they fix them up and then double there money. H. u.d. homes are FHA finance with 3% down , Sometimes you can find really good deals. But remember there is no warranties , I hope this answered your question.If a property for sale says ';HUD home, sold as is, Elect. bid only'; are there any red flags here?
No, not really.. don't know what you want the HUD for, so can't help you much. As far as, I can tell that I would be worried about is the 'as is'... And, I would want to get it looked at by county inspectors. Well, maybe two county inspectors and look at it myself, if at all possible.
yes you buy as is this does not matter if the foundation is broken or if thje whole place is ';red tagged'; stay away from it...youi never know...but ';as is'; is a red flag....please stay away from.
It's a HUD foreclosure, you don't know what you are getting. You may get a good deal or a piece of crapola ... roll the dice.

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