Foreclosures, foreclosed homes

Buy real estate the government has seized or doesn't need. Commercial buildings, investment properties, land, multifamily, single family homes, condominiums, mobile homes, farms, ranches and more.

Commercial Real Estate and Land for Sale by the U.S. Government

This Federal Asset Sales Real Property (FAS-RP) web site was developed to provide citizens easy access to real estate properties currently offered for sale by the federal government.

Government Homes Sale

These previously owned homes are for sale by public auction or other method depending on the property. Anyone can buy a home for sale by the U.S. Government, but you must work with a real estate agent, broker or servicing representative to submit an offer or bid.

HUD Foreclosed Homes

When someone with a HUD insured mortgage can't meet the payments, the lender forecloses on the home; HUD pays the lender what is owed; and HUD takes ownership of the home. Then HUD sells it as quickly as possible.

Veterans Administration (VA) Repos Homes

VA operates several programs to benefit veterans and members of their families. One of these programs is the Guaranteed Home Loan Program. If a veteran-homeowner defaults on a VA-guaranteed loan, the veteran's lender forecloses the loan and, in most cases, VA repos the home after foreclosure.

VA has awarded a contract to Ocwen Federal Bank FSB in Orlando, Florida, to manage, market, and sell these properties. VA expects that Ocwen Federal Bank FSB will begin listing VA REO properties in January 2004. The properties will be listed by local listing agents through local Multi Listing Systems (MLS). .

General Services Administration (GSA)- Office of Property Disposal

The U.S. General Services Administration (GSA) sells real estate seized, confiscated, foreclosed, or no longer needed by the Federal Government. Sale properties may be in any of the 50 States or U.S. territories or possessions and include many different types. Some examples are residences and building lots, warehouses and office buildings, land for commercial development, farms, and rural undeveloped acreage. Properties are generally sold by auction and sealed bid. Each bidder must place a bid deposit. A sale is made to the highest bidder.

GSA issues the U.S. Real Estate Sales List bimonthly. It lists government real estate properties that are sold by auction or sealed bid. and tells how to get more information on specific properties. For convenience, listings are grouped by property type---residential, commercial, and land and miscellaneous.

Federal Deposit Insurance Corporation (FDIC)

FDIC maintains an Internet site for those interested in purchasing FDIC owned real estate (ORE). The ORE Retrieval System allows for property searches by state, city, value range, etc. and will indicate the contact person for each property.

Internal Revenue Service (IRS)

Under authority of the Internal Revenue Code, properties seized for nonpayment of internal revenue taxes are sold at public auction. All property is offered for sale "where is" and "as is" and without recourse against the United States. No guaranty or condition of any of the property, or its fitness for any use or purpose.

All payments must be by cash, certified check, cashier's or treasurer's check or by a United States postal, bank, express, or telegraph money order. Make check or money order payable to the Internal Revenue Service.

Small Business Administration (SBA)

Property acquired by the U.S. Small Business Administration in administering its loan program is available for purchase by the public. The property ranges from real estate - commercial property, single family homes, vacant land, and farms - to personal property such as machinery, equipment, furniture, fixtures, and inventory that came from a wide variety of business operations.
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US Army Corps of Engineers - HAP Resales (ACE-HAP)

The U.S. Army Corps of Engineers acquires single-family homes and other properties, with up to two living units, under the authority of a Homeowners Assistance Program (HAP). The HAP is for eligible applicants who cannot sell their homes, under reasonable terms and conditions, as a result of a base closure or realignment action. The properties are then offered for sale to the public. Anyone can offer to buy these properties regardless of race, color, religion, sex, or national origin.

Fannie Mae

Generally, a wide selection of homes, including single-family homes, condominiums, and town houses, located in a variety of neighborhoods throughout a community are available. The number, types, and the sales prices of housing may vary substantially. Many of these homes are relatively new.

Freddie Mac

Freddie Mac offers a variety of properties - single-family homes, townhomes and condominiums - all across America. Many are refurbished to like-new condition. Every Freddie Mac home is ready for immediate move-in. Freddie Mac does all the repairs.

Government Real Estate