How long do you have to be in/live in a "HUD" home before you can sell it?
State/Country relating to question: Illinois
Thanks for your question and good afternoon.If you buy an "owner occupied " HUD home the requirement is 12 months of occupancy before you can resell.
Here is reference.
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You would sign a statement to this effect as part of the closing.
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Here is the addendum they require you to sign here covering the 12 months..http://www.hudhomesource.com/forms/professionals/ownerOccupant9548-D.pdfThanks again.
Texas Attorney for 29 years dealing in real estate
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