Waiting for HUD to sign

[VJ B.]

Hello,

We are in the process of purchasing a fix and flip property, from HUD through wholesaler, in Southern California. We are at the end of a 30-day closing process. We (buyer) signed closing documents a week ago and all parties (wholesaler, lender, escrow) are ready to close. However, HUD did not sign closing docs and in the waiting game since then.

I have lot of questions going thru my mind and didn’t exactly think of exit strategy before.

What are my options at this point? How’s your experience dealing with HUD?

Wait – not knowing how long HUD will take to close it. Is it possible to get some $ credit?

Or

Get out of the deal?

I had to pay $800 upfront for HOA documents for closing. Not sure how to get the money back?

Any similar experiences?