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Wholesaling
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Updated almost 9 years ago on . Most recent reply

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Kim Handelman
  • Real Estate Agent
  • Guilford, CT
88
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193
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HUD

Kim Handelman
  • Real Estate Agent
  • Guilford, CT
Posted

Hi All, I found a good wholesale deal but the statement says "Is subject to HUD guidelines 24 CFR 206.125". What does this mean? Is this a house that can be wholesaled to a flipper?

  • Kim Handelman
  • Most Popular Reply

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    Wayne Brooks#1 Foreclosures Contributor
    • Real Estate Professional
    • West Palm Beach, FL
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    Wayne Brooks#1 Foreclosures Contributor
    • Real Estate Professional
    • West Palm Beach, FL
    Replied

    This is a REO that was a Reverse mortgage (HECM) and must be sold for at least 95% of the FHA appraisal. Therefore, not likely a good wholesale candidate.

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