inspecting a HUD Repo home before closing ?
inspecting a HUD Repo home before closing ?
I have a contract on a HUD Repo and the utilities have been shut off.The
electric meter was taken off. My agent said that Hud will not turn on the
utilities,nor will they pay for any charges billed to them after they have shut
them off. He said that I have to have the utilities turned on in my name in
order to be able to properly inspect the property. Is this standard procedure
on a HUD Repo?
I just think it's kind of wierd to have utilities turned on in your name when
you don't actually live there, or own the property. Is that just the part of
the hassles that go along with getting a home for a decent price?
HUD has changed a lot since it was privatized over a year ago. In our area
the privatization has changed hands once. I can't find a convenient list
of agencies that handle HUD, however if you use the link http://www.hud.org/
and follow the links to register as a Licenced HUD Broker you will find a
list of companies and what States they serve.
Another thing to be careful of is that HUD properties do not always have
clear title. Make sure you check this way before closing.