HUD Seasoning

I heard, but am having a hard time verifying, if you purchase a HUD f/c, you cannot resell it for 90 days. I’m having a hard time believing this, but I’ve heard of other strange rules so I’m not ruling anything out. Thanks.

This is assuming that you did not buy the HUD foreclosure as an owner occupant, but as an investor. You can sell it the next day if you can find someone to buy it. The problem is going to be the buyer’s lender. A buyer can’t get an FHA loan on a property that has been sold within the past 90 days. Also, many lenders have their own seasoning requirements. If you want to be able to do quick sales, find a lender with a liberal seasoning requirement and refer your potential buyers to that lender. Good luck.