The Buyer must purchase utilizing FHA-insured financing or an all-cash sale.  Buyers may utilize Sections 203(h) for Disaster Evacuees or 203(k) including a streamline 203(k) in order to purchase the property during the lottery period. 

Discounts are only available for purchases during the special lottery.  Competitive sales with discounts for Disaster Evacuees will not be allowed.

The purchaser must utilize the services of a real estate broker.  HUD will pay the sales commission up to 5% in connection with the purchase.  A buyer may not collect a broker commission.

HUD will pay all the Buyer’s reasonable and customary closing costs up to 5% in connection with the sale of the property.

Earnest money is $500 for Disaster Evacuee sales.

Buyers will be required to occupy the property for one year from the purchase date.