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Updated almost 7 years ago on . Most recent reply

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104
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Paul Stewart
  • Specialist
  • Atlantic City NJ
44
Votes |
104
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Atlantic City HUD properties

Paul Stewart
  • Specialist
  • Atlantic City NJ
Posted

So I'm a bit confused about HUD houses in Atlantic city NJ. I have seen several of them and was interested in submitting a offer on a few. My lender informed me that I do not qualify as a HUD buyer because of my income and the property will be a second home ( future rental house) . Other people in NY have told me you can buy a HUD home but it depends on timing. I have google'd it and have not found a real answer or it seems a little different in other area's. So was wondering if anyone had first hand knowledge of HUD homes in Atlantic city NJ or even any where in NJ? How can a Investor purchase a HUD home? Any type of insight would be great.

Most Popular Reply

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4,335
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Greg H.
  • Broker/Flipper
  • Austin, TX
4,242
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Greg H.
  • Broker/Flipper
  • Austin, TX
ModeratorReplied

There are no income requirements on HUD home purchases.

If you purchase during the exclusive period you must owner occupy the property for 1 year as your principle residence.  If you purchase during the extended/investor period there are no requirement to occupy

  • Greg H.
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