Selling a HUD contract

[Peter Grosso]

Hello All, 

I am a Realtor on Long Island, I have a client who I help bid on two flips and won both. One of them is a HUD property that he would like to wholesale to another investor that I lined him up with. This is actually my first HUD deal and that process was a pain in itself. Does anyone have any advice that I could share with my client on the chances and the process of transferring the contract?

[Dave Bond]

HUD is pretty strict. I almost lost a $5,000 EMD because I put in an offer as cash but was doing private funding. You'd have to double escrow.