24 C.F.R. § 291.200 Future REO acquisition method.
Title 24 - Housing and Urban Development
(a) Under this method of property disposition, HUD will enter into a property acquisition agreement (or agreements) with a transferor (or transferors), which shall provide for the right and obligation of the transferor(s) to acquire a future quantity of properties designated by HUD as they become available. The transferor(s) will be selected through a competitive process, conducted in accordance with applicable laws. HUD will negotiate the specific terms of the property acquisition agreement(s) with the selected transferor(s). The properties will be available on an “as-is” basis only, without repairs or warranties. (b) Eligible entities. An individual, partnership, corporation, or other legal entity will not be eligible to participate in this process if at the time of the sale, that individual or entity is debarred, suspended, or otherwise precluded from doing business with HUD under 24 CFR part 24.
Title 24: Housing and Urban Development
PART 291—DISPOSITION OF HUD-ACQUIRED SINGLE FAMILY PROPERTY
Subpart C—Sales Procedures
§ 291.200 Future REO acquisition method.
