If i buy a hud property. it says it has to be owner occupied, but could i sell later on in few year and buy another hud property

I really dont know how hud works as they want to sell homes to people who are owner occupied. but what if the owner down the road wants to sell it and buy another one?

Houston, TX -

Attorney Answers (2)

Kevin Matthew Koel

Kevin Matthew Koel

Real Estate Attorney - Houston, TX
Answered

You can buy and sell as you please. The HUD "owner-occupied" provision means that they want the buyer to be the one who occupies the house as their main residence, not to be occupied by renters or only occasionally by the buyer as a vacation spot or investment property.

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Cheryl Rivera Smith

Cheryl Rivera Smith

Real Estate Attorney - Frisco, TX
Answered

Yes, as long as you occupy it after you purchase it.

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