HUD for sale (no investors)

[Jason Hardin]

I was browsing around my area just looking at houses for sale and I saw one that was a Bank/HUD owned home that needed some work but in the description it says only homeowner/occupants (no investors). How and why would they put that in there? If they want their money, why wouldn't they want to sell it to an investor?

How do they know I'm not going to buy it for myself or not? I have no intention of buying this home as I don't believe the price they want will be good enough to flip it but it just intrigued me as to why they wouldn't want any investors buying the home.

Thanks,

Jason

[Greg H.]

Originally posted by @Jason Hardin:

@Mike Cumbie, @Greg H., @Chad McClain

Thank you all. I had just read that if you bought a HUD home you couldn't resell it within 90 days but I think now that I think about it that may have been back quite a few years now.

Great help! Thank you all again.

 You probably read one of the following:

- FHA 90 day rule that you must hold title to a property for 90 days before contracting to sell to a buyer using FHA financing. This would be for any home you purchased

-Or FNMA 90 Deed Restriction - you cannot sell a FNMA foreclosure for more than 120% of the purchase price for the first 90 days