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Updated over 4 years ago on . Most recent reply
HUD Home in Texas
Hi all! We have a question about HUD homes. I understand that you can't assign bank owned. I am seeing information that you have to hold it after close for 3 months? So I assume this means it wouldn't be a good wholesale deal?
Is it true that you have to hold for 3 months after close?
I was under the impression that I could double close....
I am in Texas if that makes a difference.
Thank you!
Most Popular Reply
- Residential Real Estate Broker
- Las Vegas NV Mission Viejo CA Corona CA
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Long time HUD local listing broker in NY, NV, & CA
HUD Homes that are listed as extended bid, are the only ones investors can buy. If you are buying a HUD home that is an extended bid property you can close on it and sell it the same day. However you have to keep in mind what ever name you place the initial offer under you will have top close under. They do not allow you to assign the contract. If you need any help on HUD's let me know.