Foreclosure in Little Rock>Question Details

Nina Williams, Real Estate Pro in 72210

In property preservation,., when is HUD property in conveyance condition>

Asked by Nina Williams, 72210 Sat Oct 30, 2010

How do i know if a property is in conveyance condition if it a HUD property?

Help the community by answering this question:

Answers

2
Julann Carney (501) 258-4779’s answer
If it is a HUD property, you can find out more information on its condition by going to http://www.hudhomestore.com & look at the addendums. If it has a repair escrow amount they will typically describe the issue that may need to be repaired. There should also be a property inspection report that has been filled out by a 3rd party inspector for HUD.
0 votes Thank Flag Link Sat May 21, 2011
The property is in conveyance condition when it is undamaged by fire, flood, earthquake, tornado, hurricane, or boiler explosion. If convey is during grass cutting season, the grass must have been cut within 2 weeks of convey. Mortgagees are to remove materials considered unhealthy or hazardous prior to convey. Property must not be occupied. Property is secure and had been secured following the guideline requirements including lock codes and the same goes with outbuildings with proper locks and key codes boarding if required must be complete as per HUD specs. Pools, hot tubs, and/or spas are secure. The property has been winterized (in season) utilities have been transferred into the Mortgagee’s name. Exterior/Interior debris and health hazards have been removed from the property as well as personal property. The property is free from change, other than that due to mortgagees neglect and/or unfinished renovations except for fire, water, freeze, flood, earthquake, tornado, hurricane, boiler explosion, vandalism and roof changes, there are no outstanding property condition code, violations, or citations.
0 votes Thank Flag Link Sun May 15, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer