Simultaneous Close On Hud Home?
There is a HUD property that I am interested in buying as an investor. The property is currently in the "owner-occupant" stage. I would be unable to be an owner-occupant since my primary residence is less than a mile from this HUD home. Furthermore, I am confident that a bid will be accepted during the owner-occupant stage and will not be opened to daily bidders. My question is, would it be possible to do a simultaneous closing on a hud home if I could provide an owner-occupant to fulfill that requirement? For example, I have a family member who does not own a home and could place the offer as an owner occupant. Would he be allowed to sign the property over to me at closing or do HUD transactions prohibit this type of deal? Thanks in advance for your advice. Ryan
Comments(0)
Is this a really dumb question? Nobody wants to touch it?
That would be fraud.
Thanks for the replies. I had no intent to commit fraud or any other crimes.