Anyone familiar with this concept?...are there potential pitfalls?
Please give us more information ? If you are referring to the UI in the listing on Hudhomestore.com that means it does not qualify for FHA Insured financing do to the estimated repairs exceeding $5000
@Greg Hall That may be it....this was actually a property that showed up on my cash buyer report through MLS...I have never really explored cash buyers until recently and found this a bit odd...I have seen this before on manufactured homes due to inability to gain FHA financing, but never a traditional framed property.
Yep, they're simply telling you the condition of the property won't qualify for FHA financing.
Thanks @Wayne Brooks