Our offer was accepted on a HUD home May 7th. We are STILL waiting on a closing date almost 2 months later. They have had all of our info for weeks now, just waiting on the government, per our realtor. What is the deal??? Why is it taking so long? I know it’s the gov’t, but GEEZ! Anybody else going/have gone through this same thing?
How Long Does It Take To Close On A Foreclosure Home Owned By Hud? 60 Days?
2 Responses to “How Long Does It Take To Close On A Foreclosure Home Owned By Hud? 60 Days?”
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in texas, HUD deals close on day 45 after contract has been executed. Your lender is required to have docs to the closing company 7 days in advance of that. If your offer was accepted 5/7. You should have executed it no later than 5/11. Given that time frame +45 days, your close date should be 7/2. Docs should be to the closer from your lender no later than today.
i got a foreclosure home this past December, it took about 3 months, did you make an offer or are you going to pay what they want? the offer takes longer. I would also keep calling your realtor , at least every 3 days, thats what i did, so that way he could keep me posted and wouldnt have an excuse not to get a hold of me. but if you made an offer then the bank has to approve it.