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HUD Properties/HUD homes for cash with escrow


We've won a bid for a HUD with an escrow of $4000. We are paying cash for the home so would we get the repair escrow funds at closing? So instead of 80,000 we would need to bring 76000? Or do we have to get the work done and then submit a bill?
Any help would be appreciated.
Thank you

It would be the latter (submit bill and get reinbursed).  Most lending institutions have very strict rules and requirements on how repair escrows are handled.  They can not simply give someone the money.  The work needs to be done and verified.

I would ask for a complete set of requirements from the contact at HUD.

Congrats on your purchase.


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Steele V. Propp


I can answer most foreclosure related questions. Buying, selling, the process of foreclosure, Loss Mitigation, Short Sales, etc. Both for HUD and VA homes as well as conventional foreclosures. I work 100% in the Foreclosure arena, dividing my time equally between consumers going through foreclosure, people interested in buying foreclosures (investors and those looking for a home of their own for lesser cost), and with the lenders doing foreclosures. This unique three prong approach allows me to see all three sides of the typical foreclosure scenario. Our goal is to offer advice and create a win-win-win situation.


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