HUD deal
I have won a bid (investor) on a property in Florida. I do not think I can get financing on it. I wish to cancel my bid. My question is I put a $1000.00 EMD on it and want to know if I will get that back.
Thank You
I have won a bid (investor) on a property in Florida. I do not think I can get financing on it. I wish to cancel my bid. My question is I put a $1000.00 EMD on it and want to know if I will get that back.
Thank You
Have you considered advertising it and assigning the contract to an investor for a profit? I believe they give you up to 60 days to close. Maybe a good opportunity for you.
Can you assign a HUD contract?
where in Florida are you?
Pasco County
...What does the contract say? Generally speaking, if someone cannot get financing the initial deposit gets returned. Sorry, not sure about HUD bids though...check your contract....
Good luck
anita[ Edited by RESolutions on Date 05/30/2003 ]