HUD First Look Program

[Ned Micic]

Hello BP! I found a HUD property that I'm interested in purchasing. I reached out to the L/A and was told the first 2 weeks the property was under the HUD first look program which gives owner occupants a change to bid on the property. Not that I would ever do this but, what would happen if an investor purchases the property claiming that he will live there? What type of consequences would the investor face? I like the property but I will wait it out until its time that investors can bid.