It looked too good to be true

 I only buy 2 of 10 homes I look at so I will be sharing a lot of videos of homes that I dont buy.  Here is a short video of a home that I thought would be the deal of a lifetime until...  Well, you just need to watch the video

The home was listed on www.hudhomestore.com which is a government foreclosure website that shows homes for sale by the department of "Housing and Urban Development" (HUD)

HUD's are a great opportunity for investors and owner occupants alike as the department has a 2 week owner occupant priority period known as an "Exclusive" bid period (only owner occupants may bid on properties for the first two weeks then investors are allowed to bid.)  If you want to buy a home from HUD during the exclusive period you must agree to live in the home for 1 year before you can resale or lease the home.

This home was listed for $14,000 and was now in the "Extended" priority period which means an investor (one who does not intend to live in the property) can purchase the home.  Bids on HUD homes are closed daily at midnight in the extended period so looking at the home immediately was important however the neighborhood would not support a retail resale of this property for a price greater than $50,000 and the rent would not justify the capital investment needed to bring this home to rental standards.  These issues can be overcome with creativity however since it is a government foreclosed home and it can only be purchased with cash (no contracts) so I was not interested in looking into this home further.