Please note that my advice was to see an attorney, to call officials and have them make a determination, not to accuse, but relay the facts.I said it sounds like....and, if the attorney is the note holder, I'd bet in such a case he'd hang his broker out to dry.The note, if originated illegally may be worthless.Joe, the applicable laws for OO so far are in the SAFE Act, TILA, Fair Credit Collections Act and state laws that will be similar to all states as to brokering.

HomeVestors, an investment company that brands itself “We buy ugly houses,” named the following top 10 housing markets for investing in single-family homes for 2014. All of these markets have posted strong apprecia...

@Matt Liu,If you do breach the agreement, you can bet the banker will file it and put you in the street.

Any other tips on how to buy a house that will rent well and be a smart bet?

Unless he/she bought it 30+ years ago, I'd bet your research is flawed

@Scott Wink what your saying could be her best bet if they will allow her to do this.

@Ronnie SparrowI have run into this before you DON't need realtors involved at all, but you have another big issue to fight.If they are using financing, the bank will not be OK with the double close (not under contract with the owner on file) or an assignment fee on the HUD (obvious reasons).Now, you can attempt to do something on a handshake outside of escrow, but thats at your own risk, and i would still draw up docs.Best bet is to close on the property and immediately put it under contract after closing with your end buyer.

I bet too it will be temporary, guessing.

. $100 wager to anyone interested that says HUD doesn't do anything, other than maybe prohibiting him from buying HUD homes in the future.I won't take this bet because, as far as I know, their policy against first time HUD OO violations isn't widely enforced.

@Joe Gore,All bets are off if you have already been sued, that's what I was talking about by court orders.