Seeking advice with FHA CWCOT property

[Wil Serrano]

I'm in the process of purchasing an FHA CWCOT property that is being sold prior to conveying to HUD. I will have to assume all responsibility and liability for any occupancy, and all responsibility, liability and cost of taking possession. The seller will only be paying any delinquent taxes, pro-rated taxes. The property is being sold "AS IS/WHERE IS" and seller is not purchasing title insurance and No Title Warranty.

Has anyone purchased a similar property and would be willing to share their experience? What would be my risk involved with occupancy and taking possession?

Any feedback is greatly appreciated. 

-Wil

[Wil Serrano]

Hey Dustin,

I actually did and all turned out well with that property. I actually purchased 2 more and have one under contract very similar to this one, but all were vacant prior to taking possession, so unfortunately I cannot speak regarding having to take occupancy. 

I did make sure that I developed a great relationship with a good Title company nearby that provided title insurance and ensured clear title. 

Hope this helps,

Best Regards,

Wil