Non Profit Sales
HUD offers non-profit agencies the opportunity to partner with HUD to rebuild their communities by utilizing the Single Family Property Disposition Discount Sales Program. The Direct Sales Program allows HUD-approved non profit organizations to purchase uninsured single family properties in the organization’s geographical area, that do not meet FHA insured financing requirements, at a significant discount of up to thirty percent (30%). Non-profits can purchase, rehabilitate, and resell these HUD properties to low to moderate-income families and first-time homebuyers. Non-Profits that are qualified by HUD, may only bid on and purchase properties in their designated geographical approved zip code area (Areas of Interest) during the Lottery Period under the Direct Sales program. These organizations may participate in the bidding process when the property is being offered to the general public as well.
The following discounts are available at closing:
- For Uninsured properties located in revitalization areas in their geographical area, a 30% discount
- For Uninsured properties not located in revitalization areas, a 10% discount, or a 15% discount if five or more properties are purchased and closed simultaneously
ONLY HUD-approved non profit organizations are eligible to participate in the Single Family Disposition Discount Sales Program. In order to become a HUD-approved Non-Profit, your organization will need to complete the appropriate non-profit application located at the following HUD website:
http://www.hud.gov/offices/hs