HUD Home Questions - Extensions

[John Franczyk]

I've been watching a HUD home that's up for auction at a shade over $90K. It was originally listed on March 16 with a near-term projected closing date for the listing. To my knowledge, nobody put a bid in on the house.

The listing was just extended through September.  My questions are:

- is a 6-month extension common for HUD auctions?

- is there an ideal time to put in a bid when the auction period is extended for several more months?

- Does the extension suggest that HUD will accept a lower bid offer on the property?

Thanks!