Portland HUD Homes At Auction This Week
About a dozen HUD homes in Portland are going to auction this week. HUD homes are residential properties acquired by Department of Housing and Urban Development (HUD) as a result of a foreclosure action on an FHA-insured mortgage. HUD then puts these homes up for sale in order to recover the loss on the foreclosure claim.
HUD homes are typically priced based on the appraised value. Unlike conventional sales, HUD employs a bidding process and accepts sealed bids for a limited period only. At the end of that period HUD will generally accept the highest bid, or the bid that brings them the highest net. If bidding is not very competitive, homes can sell below the appraised value…within reason.
Here’s an overview of the HUD homes for sale in Portland (City of Portland only) with bids due by 6/6 (bid period can be extended at HUD’s discretion):
Want to find out more about HUD homes? Click here for more details.
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New Listings
Popular Condos
- 937
- Avenue Lofts
- Bridgeport I
- Bridgeport II
- Casey
- Chown Pella
- Civic
- Edge
- Eliot
- Elizabeth
- Encore
- Flanders
- Gregory
- Henry
- Hoyt Com's
- Irving St.
- John Ross
- Lexis
- Marshall W.
- McKenzie
- Meriw'r (E)
- Meriw'r (W)
- Metropolitan
- North Park
- Old Town
- Pacifica
- Park Place
- Pinnacle
- Streetcar
- Tanner Pl