HUDHOMESTORE Properties

[Abdul Azeez]

Hello Folks - I see a number of hudhomestore homes I am interested in. My concerns are what do I do if an inspection uncovers structural issues that can make the investment unprofitable or what if title search reveals liens against the property or if other such issues come up. Does the offer allow these contingencies to be baked in? Also, when do I need to engage an attorney?

[Brian Jordan]

I've just responded to your post on Hubzu and have acquired probably 100 hud homes in the last 6 yrs. Regarding structural issues as well as others relating to the physical condition of the property, there are no contingencies. Once you submit that paperwork after being awarded the winning bid, your earnest money is nonrefundable. Notice I said "once you submit that paperwork". You have 48hrs to submit paperwork after being awarded the property. Should you have an inspection done immediately, discover a deal killer in the property and not submit the necessary paperwork is totally up to you...

Regarding issues with title, you'll never have one. These are about the cleanest title you'll ever see because 99% of the time, they're wiped clean well before the come to market. There occasional time where issues pop up but they'll be handled and you be assured a clear and marketable title. Always get title insurance just to be safe. PM me your address and I'll share some tips and tricks about HUD's with you and your agent. Best of luck.