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.
General information about this opportunity
Last Known Status
Office of Housing-Federal Housing Commissioner, Department of Housing and Urban Development
Type(s) of Assistance Offered
H - Sale, Exchange, or Donation of Property and Goods
Housing Notice 00-07, dated April 28, 2000 (and subsequent extensions)
Who is eligible to apply/benefit from this assistance?
Local government legally authorized by local law to make the purchase.
Low- to moderate-income families and communities.
Evidence of authority to purchase.
What is the process for applying and being award this assistance?
Preapplication coordination is not applicable.
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. 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.
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.
Approval/Disapproval Decision Time
How are proposals selected?
How may assistance be used?
Single family homes with a current as-is market value 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". FHA Single Family Housing Policy Handbook 4000.1, Section IV.B.2.f.viii outlines the details of the program. The Handbook can be found at https://www.hud.gov/sites/documents/40001HSGH.PDF
Available properties are listed at HUD’s website located at http://www.hudhomestore.com/Home/Index.aspx where eligible governmental entities can search listings by location and buyer type.
What are the requirements after being awarded this opportunity?
All annual reports submitted by local governments will be maintained by HOC Program Support Staff Director.
Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.
Matching requirements are not applicable to this assistance listing.
MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
Not Applicable. Method of awarding/releasing assistance: Quarterly.
Who do I contact about this opportunity?
Regional or Local Office
Contact the appropriate HUD Homeownership Center (see https://www.hud.gov/program_offices/housing/sfh/fharesourcectr ) .
451 7th Street, SW
Washington, DC 20410 US
(Sale, Exchange, or Donation of Property and Goods) FY 18 FY 19 FY 20 FY 15 FY 17 FY 16 - Reported Under 14.311
Range and Average of Financial Assistance
Regulations, Guidelines and Literature
Examples of Funded Projects