Updated about 7 years ago on . Most recent reply
Hubzu property as primary residence w/ 5% down
Currently looking at a home at auction on Hubzu. I would like to make it my primary residence w/ 5% down. Meets the 70% rule so I will have a good amount of equity when all is said and done. It does need work and I would be responsible for CO. Spoke with lender who advised that appraiser would have the biggest effect on whether or not I could close on home. Also amount of time given to close. Should be able to get letter from township explaining that they are aware of the home closing without CO and CO will be obtained after closing. It seems like I should not have an issue, but I would like to cover myself. Anything I could be missing? Anyone purchase home from Hubzu? Any issues or recommendations?
Thanks!