If you, via a HUD designated broker, bid on a HUD home in Denver area and did not get your bid accepted and really wanted the house - Keep an eye on the house. A new trend is merging. Recently there are more HUD homes that come back on the market, after already being under contract. Sometimes this happens more than once.

What happens is that HUD accepts a bid and places the house on under contract status on the MLS system. For some reason, a few weeks or a month later the house pops back up on the market in Active status.

What happened? One of the bigger obstacles is financing. Many of these HUD homes are purchased with an FHA loan and the typical hiccups come in underwriting. It seems as if every day there are new hoops to jump through. Recently we were told that an FHA inspector had to re-inspect the property, even though it was just inspected.

Typical closing time set after the bid is accepted by HUD is 45 days in the Denver area. There are also more extensions being requested due to various delays to get the deal closed in those 45 days.

We have just helped another buyer close and purchase a HUD home in Denver, and have another buyer waiting to close in the next two weeks.

If you have any questions about HUD owned homes and how the process works feel free to contact us at any time or read more about HUD Homes in Denver found on the links below.

Information about HUD owned Homes in Denver

ALL HUD Homes for sale in Denver area

Copyright 2009.© Kenna Real Estate. Rita Burke. All Rights Reserved. "Did you get outbid on a HUD Home in Denver area?"