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Updated almost 10 years ago on . Most recent reply

Gabe G.'s profile image
Gabe G.'s profile image
Gabe G.
  • from Greenwood, Indiana
  • Member since Oct 24, 2013
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Gabe G.'s profile image
Gabe G.'s profile image
Gabe G.
  • from Greenwood, Indiana
  • Member since Oct 24, 2013
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Gabe G.
  • Greenwood, IN
93
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346
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Buying & Selling Real Estate

HUD home and losing earnest money

Gabe G.
  • Greenwood, IN
Posted

It's been awhile since I purchased a HUD home.

Is it true as an investor the inspection or financing contingency put in a contract, means nothing? Meaning that if you are an investor, and the inspection is unacceptable and you decide not to proceed, they will take your earnest money?

Won a bid, just want to be more familiar on the process.

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Guy Gimenez's profile image
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Guy Gimenez
  • Investor
  • from Corpus Christi, TX
  • Member since Jan 22, 2012
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Guy Gimenez's profile image
Guy Gimenez's profile image
Guy Gimenez
  • Investor
  • from Corpus Christi, TX
  • Member since Jan 22, 2012
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Guy Gimenez
  • Investor
  • Corpus Christi, TX
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Guy Gimenez
  • Investor
  • Corpus Christi, TX
Replied

@Gabe G.

There are always plenty of investors who will purchase from HUD and take on the risks of the unknown for the lure of a lucrative payday in the future. To each his own, but I too old for the aggravation and incompetence of HUD and their captive title affiliates.

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