Wholesaling Hud Homes

[Willie Banks]

Want to know can I wholesale a Hud Property by adding a buyer for financing form, then add buyer onto contract as an additional purchaser , then after closing quit claim myself off the deed

[John Vo]

@Willie Banks I don't think I follow you. What do you mean a buyer for financing form? 

You only have 2 or 3 business days to mail in the completed contract to HUD once your bid is accepted. So you would have to FEDEX the contract overnight to one of the asset manager that's overseeing the property. So you would literally have to have a buyer within 1 day after your bid is accepted in order to add that buyer's name to the sales contract and then mail the contract to the asset manager. The sales contract belong to the asset manager and there's no financing form that I know of except for the FHA financing addendum. But the FHA financing addendum doesn't let you add a buyer to it....