Littleton, CO · Member since 2017 · 2 posts · 0 votes
I've come across a home that was foreclosed upon in July 2015, but remains unsold.
In speaking to the trustee, they told me it was transferred to a national REO firm that same year. I spoke with the REO firm who told me that house was in HUD's possession as of Feb. 2016.
The local HUD office has been non-responsive and the house does not appear on hudhomestore.com as active or inactive.
Does anyone have an insight as to how I may find more information out (Case #, etc.) about this property and/or why HUD would be "sitting" on it 14-months later?
REALTOR® · Brockport, NY · Member since 2015 · 3k+ posts · 4k+ votes
9y
Personally I have no idea on their rhyme or reason when dealing with the timing. I walked into a HUD home last month that had 7 year old sign in sheets (first signed in date was 2010). Inspectors and the like were in there for 7 years before it finally hit the market.
Broker/Flipper · Austin, TX · Member since 2013 · 4k+ posts · 4k+ votes
9y
The most likely culprit is a title issue that needs to be cleared up. The local HUD office will know nothing about HUD homes as they are a totally different department
All you can do is wait for it to appear at hudhomestore.com. No properties appear there "inactive" as once they are no available they will disappear. You cannot purchase until it appears and goes through the initial owner occupant period
Littleton, CO · Member since 2017 · 2 posts · 0 votes
9y
Thanks for the replies.
I actually received an email this morning from HUD acknowledging that it was in their inventory and "No timeline for sale is known. When it is listed for sale it will be advertised at www.hudhomestore.com. Thank you."
Wholesaler · Myrtle Beach, SC · Member since 2017 · 276 posts · 80 votes
9y
Four years after dealing with several HUD properties in NC, SC, and GA and I'm still clueless as to how that whole system works from one case to another.. VERY rarely does the left arm work with the right.