Buying A Home
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HUD pulled "our" house off the market!!

Our realtor just informed us of this. We are still in the process of getting financing. I'm so sad! Sad She told us that its not sold and they will most likely be putting it back up in a month or so. Does anyone have any experience with this? Is is pretty much over for us on this house? I've never heard of this before!!? It was only on the market for 60 days. If they do put it back on, it would be a good thing I guess because it would give us plenty of time to get all our paperwork straight. Has anyone else ever heard of or had this happen to them?

Re: HUD pulled "our" house off the market!!

  • Did you already have a mutual contract?
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  • Sadly, no. The bank we had our pre-approval with will not loan on houses under the right of redemption law and this homes time was not up yet. In Alabama it's one year! So that left us scrambling to get financing from another bank. I LOVE this house so much. But at this point I'm just wondering if we should take it as a sign that it's not meant to be or should we be willing to go the extra mile and a aggrivation for the house we really want?
  • I would keep looking but don't give up on it. The house we bought we saw as a short sale over a year ago when we couldn't afford to buy, but we LOVED it. It went off the market for like 9 months - then returned as a foreclosure, when we were finally looking to buy. Don't give up hope. :) But that is very discouraging. Can your realtor call to find out why they pulled it & what their intentions are?
  • I know this is really vague, but go look through my posts. We lost funding twice due to a Redemption period. I don't have time right now to go through everything that happened, but my posts explain a lot. 

    I really just wanted to say if this is the house you love, get your finances in order and be ready to jump (Granted that could take quiet a while) when it comes back on the market. Although, since it has been removed I would definitely continue to look at other homes.  

  • imagePinkPicketFence:

    I know this is really vague, but go look through my posts. We lost funding twice due to a Redemption period. I don't have time right now to go through everything that happened, but my posts explain a lot. 

    I really just wanted to say if this is the house you love, get your finances in order and be ready to jump (Granted that could take quiet a while) when it comes back on the market. Although, since it has been removed I would definitely continue to look at other homes.  

     

    Thank you for your advice! That is our plan at this point. We will continue to look but honestly, I love this house so much I can't imagine myself anywhere else. I tried not to get my hopes up but the minute I walked through the door I knew it was the right one. So tonight I'm just feeling a little defeated! We are first time home buyers and self-employed so all this is confusing enough without all the extra complications.

  • I am in the same boat about a HUD home. The house went on the market on 07/02.  We went to look at the house on tuesday(07/12) at 1pm. I fell in love with it. Then by 4pm it was pulled off the market as pending and bid select said contract pending. We asked are realtor to find out what was going on with it. He found out on Wednesday that if had 3 bids put in on it the week before. So yesterday at 5pm it went back as active, so we are having your realtor find out what is happening. So hang in there if the other bids are low the could decline all of them and put it back up.  Also go to the bid select website and search for the house. Even if it says contract pending or anything like that but sold, you san see the Property Condition Summary, and the Property Condition Report from the appraiser. This way you have an idea of what the true condition the property is in, besides just the outer layers.

    Anniversary
  • Hi mrsmac07 -- Same has happened to me. I have been watching a house and it's off the HUD Home store and all the MLS' now. I can still see in if I look up the contacts for the house. The sign is still in the yard - however, one of the meter's has been pulled. I can't get anyone to tell me anything about it.  I am trying to sell my house so I can purchase this one IF it comes back on the market..I'm hoping and praying.   What I'm trying to figure out is why the pull houses off the market and then put them back on? Can anyone tell me that ? I'm new to this HUD thing.

     Did your home ever go back on the market and did you get it?

    Thanks!

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