Walk-through & Closing

Home Closing

Walk-throughs are encouraged as this is the buyer's final opportunity to make sure that the property is in the same condition as it was when the offer was made.  Any incidence of vandalism must be reported to the asset manager (AM). Since HUD homes are sold "AS IS WHERE IS", HUD is not obliged to make any concessions and this is reviewed on a case by case basis.  

During the walk-through, no utilities are on and it is the buyer's responsibility to turn on utilities after closing.  It is also important that the buyer not move anything into the house prior to closing as this may result in the contract being cancelled.

Regarding closing, this must be set up at least 5 days prior to the contract expiration date.  Furthermore, HUD keys do not convey to the buyer at closing and it is the buyer's responsibility to re-key the home.

 Definition of a HUD Owned Home
Where to Find HUD Owned Homes
Understanding Insurability Codes & Listing Periods
Making Offers on HUD Homes
Winning the Bid
EMD Requirements
Contract Paperwork
Home Inspection
Contract Extension
Walk-through & Closing

Liz Schuyler
Liz Schuyler
4000 Virginia Beach Blvd #164 Virginia Beach VA 23452