Doubling HUD Homes? Wholesaling HUD homes

[Cameron Ellis]

guys I'm hoping to find out all I can about this subject any input would be great!

• What type of HUD homes can I wholesale?
• How long does HUD give you to close?
• Can I have my buyer wire the funds in before the HUD home is scheduled to close?
• Can I back out if my buyers back out?
• Can I assign my contract with HUD or is it strictly DOUBLE CLOSINGS

Any other info is greatly appreciated

[Ted Akers]

@Cameron Ellis

You cannot assign a HUD contract and transactional funders will require you to have an end buyer. If you do not get one you can back out all the way to closing but will lose your earnest money. You also want to know that some HUD appointed closing agents may not want to close both transactions, so you may need to move it to an investor friendly title company. In some parts of the country HUD stipulates up front that you can pick the title company.