I have recently started investing & HUD homes. I currently have won 4 HUD property bids in Florida but find it extremely difficult working with real estate agents. Are there any ethical issues when asking agents to allow me to do an OPEN HOUSE. Several agents told me that because I haven’t closed and taken title to the house that they are unable to provide any assistance with the OPEN HOUSE. Even unlocking the house to allow me the do the OPEN HOUSE is being met with reject.
Thank you in advance & I appreciate any suggestions, comments or feedback
Hi,
You can not assign a HUD Home, you can do a transactional funding transaction but because the property is owned by the Federal government and although control of real estate is conveyed by contract under state law this does not apply to Federal Government controlled property as Federal Law does not convey contractual rights but requires closing the purchase to have the right to show the house without limits.
State vs Federal! (Federal Wins Every Time)
GR
GR,
Thank you for your feedback regarding HUD…
Is there any way to legally have a HUD Open House during the 30 days after winning a HUD property bid if you are a wholesale investor that plans to use transactional funding for a back to back closing?
Thanks again in advance.
TS