I’m sure at some point in your life you’ve heard someone say “if you want to make money you’ve got to buy low and sell high.” Of course this is usually easier said than done. Please note that even though GNND participants are required to utilize a real estate agent to submit their bids, HUD will not pay the selling agent commission; however, if FHA financing is used, the purchaser may add closing costs and commissions to their loan.
In the case of HUD homes, the property owner is a person who obtained an FHA mortgage to purchase or refinance …