Government Owned Columbus OH homes for sale

This is the third in a series of posts I wrote to provide you with various sources of foreclosed properties.

Beside regular banks and mortgage lenders, government sponsored entities are a great source of discounted homes for sale. The 2 largest sellers in this category are Fannie Mae and Freddie Mac. They have flooded the market with hundreds of REOs and probably own a substantial “shadow” inventory that will hit the market in the next couple of years.

Yet another source of foreclosed properties is the Federal Government itself. Here we are not just talking about the Department of Housing and Urban Development (HUD). There are numerous government agencies that need to sell foreclosed homes and other real estate. is a great resource to find all properties for sale by the Feds. They sell real estate all over the world!

The two, most notable sources of homes for sale – besides HUD – are the Department of Veterans Affairs (VA) and the Department of Agriculture (USDA).

You may wonder why they ended up with foreclosed homes? It’s due to government guarantees for home mortgages.

Both VA and USDA offer superb loan guarantees for certain home buyers. VA supports veterans who served in the US Armed Forces, while USDA underwrites home loans in rural areas. These programs require little or no down payments and very low interest rates. In short, they are the best deal around when it comes to financing your home purchase.

Unfortunately, some home buyers defaulted on their VA or USDA mortgages. And due to the guarantees issued by these agencies, they end up with the properties when banks foreclose on these loans.

Anybody can purchase government owned single family homes. However, most agencies prefer owner occupant buyers over investors. And, you have to be represented by a  Columbus real estate agent or broker to submit your offer.

For Columbus HUD homes I recommend that you visit our sister blog There you will learn everything you need to know, before you submit an offer on a HUD house.

VA owned homes are not so easy to find. One source is this website which lists all kinds of REOs.  Even better, just call me at (614) 975-9650. I can look up VA property listings on the MLS and email you a current list of all VA homes.

Here’s a sample of 5 VA homes for sale. Click the link and you will see the MLS listings. Then call me to schedule a showing.

Finally, to find out more about Rural Development (USDA) Homes , visit this website to determine your eligibility and to get the most current information on a specific property. Once you have found a home you like, I can help you research the property and submit an offer for you.

Keep in mind that all foreclosed properties are sold as-is, which means that the seller will not make any repairs. However, all purchase contracts are contingent on a satisfactory home inspection. I can help you find a qualified inspector to thoroughly examine the house before you close.

I have helped many home owners buy government real estate. I’d like to help you too!

Call me with your questions at (614) 975-9650!

Thanks for reading the Blog!
Posted by: Susanne Novak, ABR, FIS, GRI
Columbus Real Estate Agent helping First Time Buyers.
(614) 975-9650