The ultimate win-win program for both the Federal Housing Administration (FHA) and real estate investors (aka you). Originally created in 1987, the CWCOT program aims to reduce the number of homes in the U.S. Department of Housing and Urban Development (HUD) inventory and cut FHA costs by allowing claims without conveying titles — hence the name. Fast forward 30+ years, and Hubzu now helps you find live and online CWCOT properties effortlessly. 

A golden opportunity for investors. The program minimizes financial loss for mortgage servicers and banks by allowing real estate investors to purchase off-market, HUD-backed foreclosure properties. This happens first at courthouse auctions (First-Chance), then online (Second-Chance) before they get conveyed back to HUD — that’s where we come in. 

Properties that can save you some serious $$$. These cash-only properties close quickly and are offered at a discount of the appraised value — perfect for snagging real estate fast, and at a great price. Bid on Second-Chance CWCOT properties just like any other Hubzu property, minus the buyer’s premium.

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QAre there any auction fees associated with purchasing a CWCOT property?

No, the buyer won’t be charged a buyer’s premium or technology fee.

QCan I tour the property before closing?

No, you’ll get access to and possession of the property after closing.

QWill the seller make repairs before closing?

CWCOT properties are sold in 'as is' condition without warranties.

QIs there an inspection period?

Physical access to the property will not be provided to conduct inspections prior to purchase — buyer assumes all risk.

QWho pays for closing costs?

The buyer is responsible for paying all closing costs.

QWill the property have outstanding Municipal or HOA liens?

Don’t worry, the seller will pay back taxes, HOA and municipal/utility liens.

QHow long do I have to close?

30 days from when the seller accepts your offer.

QCan I finance a CWCOT Property?

Unfortunately no, all CWCOT auctions are cash only.


Property is available to all persons, regardless of race, color, religion, sex, handicap, familial status, or national origin.

Before the Auction

Create a free Hubzu account and filter by ‘No Buyer’s Premium’ to search CWCOT properties. 


Place the bid deposit, start bidding and get in on the auction — virtually, of course.

During the Auction


Congrats! Sign all of the necessary paperwork, submit the EMD, close with a title/closing company and celebrate!

After the Auction




If you are the selected bidder at the end of the auction, just sign all the necessary paperwork and close. Yep, it’s that easy. Finally, a CWCOT process you can feel at home with. 

Did a property catch your eye? Add the auction start and end time to your calendar. Our site is 24/7, but each property has its own auction timer. Bidding is easy! Just click the “Place Bid” button and follow the easy step by step process.



Create or log in to your Hubzu account — don’t worry, it’s free. Next, search for the right property. Step 1: Click “Buy a Home” from the top navigation bar and Select “Auction.” Step 2: Click “More Filters” and Select “No Buyer’s Premium.” Review our entire inventory of CWCOT properties and make sure to save the auction date and time for the properties you’re interested in.



No Buyer's Premium. No Tech Fees. 

Cash Only. Off-Market Properties.

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Abbreviation “Claims Without Conveyance of Title”