Posted by Bill K. (AZ on November 30, 1999 at 12:56:59:
Erich,
It is true the HUD gives first priority to owner-occupants; however, if they have been trying to sell this home for 8 months, then the bidding should be open to everyone. I’d check it out. Find a HUD-registered broker who will be able to help you with this.
HUD allows bids by owner-occupants only during the first 10 days of new listings. Additionally, any time HUD changes the price, the bidding is again only open to owner-occupants for that initial 10 day period.
A couple of blocks away from me there is a small house. Its been empty for 8 months and is a HUD property. Can an investor in California buy a Hud property? I understand HUD gives want to be home owners first priority.