Wednesday, July 11, 2012

HUD beauties

 It's been a long time.  I've been working on a HUD home that my money man wouldn't pick up.  ARV  $129,000  repairs 10k list $28,000.  SOOOO, my son bought it.  We just couldn't let it go.  AND it's local.  Wells Fargo is doing the financing.  So far it's been a real adventure with Wells Fargo, to this very minute, they are a month late in closing with two extensions.  My son signed papers a week ago and WF is still trying to source the payment of the first extension fee.  MORONS!! 

The house started at $99k.  We had it under contract 3 times at 3 different prices.  When it came out at $28k, we had to jump.  So many little tangents to this story. 

I just got a message this very second that it might have funded.  wow.    So, I'm off to call title.  if it funded, I gotta go break in to a house and paint it :).   Before and after pics are coming.


Alex said...

Hi Kelly!

So what ever happened to this deal?


Kelly said...


Big Huge Smile!!!! I hope you are well!!

We have been rehabbing it, purely cosmetic. It looks fantastic inside. My Son, and his little family are living there. He has a full time job, a couple of side hustles, is a student, is becoming a RE Broker, has a toddler AND one on the way. So, he's a busy guy. We just installed his DW the other day. It's almost finished. We will do the rest of the landscaping in the spring. I will have pics when it's finished.

I've noticed a few more HUDs than usual. So far they are all WAY overpriced. They usually sit for a while around here. People are scared of them :) good for me.
Ah, good to hear from you Alex!!
email me all of your adventures, would love to hear them!!