Updated about 10 years ago on . Most recent reply
HUD home Under Contract!
Excited to share that my dad and I finally have a home under contract in Colorado Springs CO! We were looking for a live-in flip and finally got one! Bid as owner occupied (my dad is living there, property in his name) just above list price, but under recent sale prices in the neighborhood. Only needs a little love - mainly flooring and detail work - so not a ton of investment needed for repairs. Potential for 30K - 50K back at resale :). Bid accepted, contract executed, now officially under contract! Next step: closing. Wish us luck!
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congrats! I am in contract on a hud home now. If you need to extend for any reason, ensure to send the extension paperwork in at least 5 days prior to the contract ending date. Also you must have the financing all approved at least 5 days prior to closing as hud has it written in that they have 5 days to review all documentation. I am running into all of this because of appraisal delays that were beyond my control.