I recently saw a webinar online and there was this fellow investor selling a program that calculates your bids on HUD homes as well was what seems to be a step by step guide on how to purchase and sell these homes. I have never purchased a HUD home but was intrigued by his system. What are your experiences purchasing one of these homes?? Is it a good/bad idea?? Thanks.
I’ve bought a few hud homes. There’s a little extra paper work but that’s about it. Hud homes will generally come down in price over time. Each time the price drops investors are locked out of the bidding. After a few days they’ll open it back up to investors at the lower price. Our Realtor put in our bids online. He said the system will generally reject offers less than 90% of the list price but that’s not always the case. Hud homes are ok to buy but I really don’t think you need to pay anyone for a system regarding hud homes.