I have noticed over the last several weeks that HUD foreclosures are disappearing from the Hud website and they are not sold. Today I got a call from an investor asking me what a property is worth that was on my HUD foreclosure website on Friday but not today. She told me she has the opportunity to purchase this house by placing an offer then if accepted then go and view the property and if she does not like it she can withdraw her offer.
There must be a new middleman company getting these listings or better yet purchasing them at a deep discount then flipping them.
Does anyone know what is going on? I appreciate any insight one might have. The HUD foreclosure she called about was listed in the mid 70"s on Friday but only really worth about $45,000.
I had a similiar occurance last week on a property that was some type of foreclosure(not HUD I do not think) that someone told me a national company was rehabbing with materials from Lowes then putting it on the market.
Perhaps the same company in first paragraph?