How do I approach HUD Homes? I have a Realtor sending me lisiting of HUD homes. for example of one they sent me
selling 71k
Comps in the area 104k
Dont know if it needs any repairs
House is a good neighborhood. Is there a way to get the price lower? Also would i need proof of funds? I can assign this to another investor or do a double closing. Please help
In Texas, you bid through an agent online at Bidselect.com. I usually send pictures and comps to my investors before we decide what to bid. If you’re in town, the broker can let you in to get bids. We also make sure the net to HUD is above the 85-87% mark or they won’t accept your bid at all.
In Austin, most people have been offering over HUD’s asking pricing since HUD can pay closing costs and your bid includes the 5% agent fee.
Will HUD pay closing costs if it is an investor purchasing the property?