Posted by Valerie PA on August 21, 2001 at 10:39:06:
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can Investers buy huds? - Posted by keith
Posted by keith on August 20, 2001 at 23:02:43:
Can Investers buy huds right away or do they have to wait 30 days. I heard that but not sure.
Re: can Investers buy huds? - Posted by Greg
Posted by Greg on August 21, 2001 at 02:05:04:
Investors can bid on hud properties after 10 days during which only owner-occupants may bid. One exception is officer/teacher next door properties but this program is currently suspended.
Re: can Investers buy huds? - Posted by Paul
Posted by Paul on August 21, 2001 at 01:10:08:
I have to wait 10 days in hawaii, I don’t know if that’s the same for everywhere.
Re: can Investers buy huds? - Posted by TJ
Posted by TJ on August 21, 2001 at 24:58:49:
Investors can buy HUDs. There is an initial period where the listings are offered to owner occupants only. I’m not sure how long that is but I thought it was less than 30 days.
Officer/Teacher next door properties - Posted by David (OH)
Posted by David (OH) on August 21, 2001 at 13:42:06:
As of 8/1 or 8/15 (I forget), this program has been reinstated. I read on this quite a bit the other day as my wife is a teacher. Investor problem - you must personally live in the home for 3 years. To make it worse, the home must be in the school district where you teach and it must also be in a “revitilization zone” to be eligible. Other than than, 50% off the asking price sounds like a good deal.
David
Re: 10 days from when? nt - Posted by Sandy
Posted by Sandy on August 21, 2001 at 10:26:30:
10 days from the date of posting. When you read the listings it will state the last day for Owner Occupants and the last day for investors, which is usually the next day. Also, if the property wasn’t bid on, the process goes to what is called “day-to-day,” which means at the end of every day if there are bids, the highest bid would be accepted, with priority going to Owner Occupants.
Sandy