If someone wanted toget Hud property and reassign them, what would be the correct procedure. Also will Hud let you do the assignments?
Great question, I’d like to find that answer out myself. There was a post on here earlier, maybe a month or two, but I don’t think anyone responded.
I know this much- the homes would have to be bid on as an “investor” as opposed to “owner occupant”. Compettiion will be probably be a little tougher, so I would always bid full price or over- depending on the deal. The 2 story HUD I am closing on this month was listed at $107,500. I bid $108 and got it. (appraises at $150 +) Awesome deals i think some of these HUDs are/could be.
No, you cannot do assignments with purchase contracts where HUD is the seller.
Hope it helps,