My question involves real estate located in the State of: Missouri
I won an auction for a HUD home and have the contract signed. The house was being sold to owner occupants only. There was an addendum to the advertisement that states:
"Page 28, of the HOA documents, of the attached restriction agreement "no single family dwelling/lot" may be sold without first giving at least 15 days prior written notice of the proposed sale to declarant and to the owners of any lots adjacent to the lot to be sold. Notice shall be sent certified mail, return receipt and shall contain the proposed sale price, other terms of the proposed sale, name of the person or entity to which the sale is to be made and the names and addresses of all persons or entities who have a right of refusal to purchase said lot."
The developer called me today and notified me not to spend money on inspections yet contingent on whether or not they decided to purchase the property. My question is this, "Can the developer exercise a right of refusal even though HUD is selling it as owner occupant only and the developer is just going to turn around and flip the house?"