How low will HUD go?

[Roger Heiser]

I had posted this question a few weeks ago and got some really good feed back. So my wife and I went ahead and made a offer on a HUD house we were interested in. The asking price was $63,200 we thought we would seek to get it in the mid to low 50,s so we made the offer at 48,000 and they took it immediately, which made my wife mad because we should have asked less. That comes out to about to a 24% discount from their asking price. Comps in the neighborhood make its after repair value around 80,000. It should work out to be a great house.