Dollar Home Sales

To expand HUD's partnership with local governments in helping to foster housing opportunities for low-to-moderate income families and address specific community needs.

Last Known Status
Active
Program Number
14.313
Federal Agency
Agency: Department of Housing and Urban Development
Office: Office of Housing-Federal Housing Commissioner
Types of Assistance
SALE, EXCHANGE, OR DONATION OF PROPERTY OR GOODS
Uses and Use Restrictions
Single family homes with appraised values of $25,000 or less that are acquired through foreclosure of Federal Housing Administration (FHA) insured loans will be available for purchase by local governments at a price of $1 plus closing costs, after the properties have been actively marketed for at least 6 months and remain unsold. The property must be located with the jurisdiction of the purchasing local government with the intent of using the property for a "clear public purpose".

Housing Notice 2013-19, dated April 3, 2013, announced the extension of the Dollar Home Sales to Local Governments Program as described in Notice H 2011-16, which can be found at
http://portal.hud.gov/hudportal/documents/huddoc?id=11-16hsgn.pdf

Available properties are listed at HUDís website located at http://www.hudhomestore.com/Home/Index.aspx where eligible governmental entities can search listings by location and buyer type.
Authorization
Housing Notice 00-07, dated April 28, 2000 (and subsequent extensions).
Eligibility Requirements
Applicant Eligibility
Local government legally authorized by local law to make the purchase.
Beneficiary Eligibility
Low- to moderate-income families and communities.
Credentials/Documentation
Evidence of authority to purchase. This program is excluded from coverage under OMB Circular No. A-87.
Application and Award Process
Preapplication Coordination
Preapplication coordination is not applicable. Environmental impact information is not required for this program. This program is excluded from coverage under E.O. 12372.
Application Procedure
This program is excluded from coverage under OMB Circular No. A-102. This program is excluded from coverage under OMB Circular No. A-110. Submit HUD-9548, Sales Agreement, stating a purchase price of one dollar ($1.00) plus closing costs, together with the Addendum to Sales Contract in the form attached to Housing Notice 06-02, as further detailed in Housing Notice 00-07, to HUD by close of the 10-day listing period for a property.
Award Procedure
Evaluation of the documentation required by the application procedure evidenced by HUD's execution of the Sales Agreement and approval of the purchaser's plan for use of the property.
Deadlines
Not Applicable.
Range of Approval/Disapproval Time
Properties assigned to this program are offered for 10 days.
Appeals
Not Applicable.
Renewals
Not Applicable.
Assistance Considerations
Formula and Matching Requirements
This program has no statutory formula.
Matching requirements are not applicable to this program.
MOE requirements are not applicable to this program.
Length and Time Phasing of Assistance
Not Applicable. Method of awarding/releasing assistance: quarterly.
Post Assistance Requirements
Reports
Not Applicable.
Audits
Not Applicable.
Records
All annual reports submitted by local governments will be maintained by HOC Program Support Staff Director.
Program Accomplishments
Not Applicable.
Financial Information
Account Identification
86-4077-0-3-371; 86-4587-0-3-371.
Obligations
(Sale, Exchange, or Donation of Property and Goods) FY 12 Not Seperately Identifiable(Exp: Reported under 14.311); FY 13 Not Seperately Identifiable(Exp: Reported under 14.311); and FY 14 Not Seperately Identifiable(Exp: Reported under 14.311) - Reported Under 14.311.
Range and Average of Financial Assistance
No Data Available.
Regulations, Guidelines and Literature
Not Applicable.
Information Contacts
Regional or Local Office
See Regional Agency Offices. Contact the appropriate HUD Homeownership Center listed in Appendix IV of the Catalog.
Headquarters Office
Wanda L. Sampedro, 451 7th Street, SW, Washington, District of Columbia 20410 Email: answers@hud.gov Phone: (800) 225-5342.
Website Address
http://www.hud.gov/offices/hsg/sfh/reo/goodn/dhmabout.cfm.
Examples of Funded Projects
Not Applicable.
Criteria for Selecting Proposals
Not Applicable.
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