What's Going On Here?????

[Christopher Vargas]

I recently found a HUD home withing my price range, unfortunately that home had a higher bid which was accepted. I dont remember if this was still within the exclusive owner occupant period or not. But, now a week later, this home has popped back up on Zillow.com, not HudHomeStore, as an (Undisclosed Address) 'For Sale' for more than $5k more than the original HUD listing. After finding the original post on Zillow, it states that the home was sold, in clear letters. I called the listing agent on Zillow, and he says that this is now a HUD auction and that the price I see is the starting bid. I called the Century 21 to confirm the agents employment, and they verified him for me. Although the price is still very attractive, my intuition is telling me that there are some red flags to be concerned about.

1. Will HUD allow a wholesaler to assign a contract?

2. Will HUD allow a double closing?

3. If this was purchased in the owner occupant period by an investor, how will that affect me if I purchase the same house second-hand?

4. If this has gone back to HUD as an auction, will it repopulate on the HudHomeStore?

If this is a legitimate deal, I will JUMP ALL OVER IT!!! Any and all help is greatly appreciated. Thanks in advance.