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Author Topic: Bidding on HUD Homes  (Read 1966 times)

Offline adayatatime

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Bidding on HUD Homes
« on: June 23, 2007, 12:04:42 am »
I was wondering if HUD took offers more thand 10% below the listing price. After looking at several homes today, I would hope so. One house only had the frame and foundation worth saving. Any information will be helpful.

Thanks
Aarron

Offline bizarrefun

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Re: Bidding on HUD Homes
« Reply #1 on: June 23, 2007, 07:45:12 am »
its based on net price...the formula is pretty easy...depends on the realtors commission....u can pay more and still lose...HUD takes the maximum NET PRICE!!! if realtor is greedy you'll probably lose even if u bid at asking price

plus many owner occupant (ooc) pay bid price or over....  i dont understand that  lol hehe...

there are some descent deals...as in cash flows etc,,,sectoon 8....depends on how greeedy you are..!!


my 2 cents

Robert A. Doncaster, Jr.
Import/Export Entrepreneur & Investor
*** DO YOUR HOMEWORK ***

Chicago Illinois USA
& sometimes Salzburg, Austria
--------------
It's A Short Time From The Cradle To The Grave!!!

Offline reiauctions

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Re: Bidding on HUD Homes
« Reply #2 on: June 23, 2007, 10:24:40 pm »
I think just like everything if you get the right timing you can get a great deal.  In my area HUD homes are not as popular anymore.  Most are hitting the deadline with no bids or below the amount that will be taken.  I've noticed HUD is dropping prices quicker than they used to.  For example, I watched one go from $75,000 and eventually sell at $25,000 (I'm still sorry I didn't move fast enough on that one)
Internet Auctions for Real Estate
http://www.reiauctions.com/info

Tom Wood

Offline bizarrefun

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Re: Bidding on HUD Homes
« Reply #3 on: June 23, 2007, 11:05:38 pm »
i agree with tom too....chicago area has been dropping in the last few weeks...wait another year is whammo!!!!!!!!!!!! those resetting ARM's will bring down the prices in all neighborhoods....trickle down and around effect....

you will hear some wonderful stories in 12-18 months on this board,,,,

i just dont want to get too leveraged in the coming months too miss out,.

i have noticed their have been price reductions increasing,,,,,



my 2 cents

Robert A. Doncaster, Jr.
Import/Export Entrepreneur & Investor
*** DO YOUR HOMEWORK ***

Chicago Illinois USA
& sometimes Salzburg, Austria
--------------
It's A Short Time From The Cradle To The Grave!!!

Offline rama1

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Re: Bidding on HUD Homes
« Reply #4 on: June 24, 2007, 01:57:43 pm »
In Miami HUD homes became very rare. I have a client -- she bought it and it is a good deal... for her, because house needs a lot of work and her brother is contractor. If she would do it with outside help, it would cost her a fortune. A bottom line -- everything depends on situation and location.

 




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