Closing on a Home

As stated before, all HUD homes are sold “As-Is”. In other words, HUD will not make any warranties or guarantees about the home and the buyer is taking the home in its current condition. Furthermore, HUD will not complete any repairs on the property.

As stated in the required purchase contract, the buyer has 15 days to conduct a home inspection on the property. All costs for the inspection are the sole responsibility of the buyer, to include hiring a competent inspector and turning on the utilities to inspect the various systems of the home.

A buyer may not make any repairs to the property prior to the close of escrow. In addition, the buyer is not allowed to move any of his or her possessions into the home until after the close of escrow.