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Updated over 13 years ago on . Most recent reply

User Stats

54
Posts
12
Votes
Michael S.
  • Rental Property Investor
  • Dayton, OH
12
Votes |
54
Posts

Double Close on HUD Deal

Michael S.
  • Rental Property Investor
  • Dayton, OH
Posted

I just got a few HUD homes accepted and have sent in the contracts. I have transactional funds lined up and will have no problem lining up the end buyer. I'm simply waiting to hear that my contracts were done correctly and that we have closing scheduled before I begin marketing. My question is this:

Since I will be double closing, can I market this to any buyer no matter where their money is coming from? (Conventional, FHA) or will this need to be a cash only purchase? One of them could go FHA, the other would have to be Conventional if it were to get a loan.

The one that could go FHA would probably sell to a retail buyer if I was able to hold it for longer than 24 hours and list it on the MLS. Any way to make that work?

Thank you!

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