How long do you have to hold a foreclosed property

[Jessie Schievelbein]

Brand new to Real Estate investing. I am looking at a foreclosed property in Texas and I had a real estate agent tell me I had to hold it for at least one year after buying before I can resell.  Can anyone that buys and flips foreclosures in Texas confirm this for me?

Thanks for your help!!

[William Hochstedler]

If you are looking at owner occupant Homepath or HUD homes, you sign an affidavit that you will live in the home. They require a one year.

Most other bank owned properties do not have this requirement.

If you purchase Homepath or HUD homes during the extended period (this happens if no occupants make successful bids), you can sell them at any time.