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Updated over 11 years ago on . Most recent reply

Account Closed
  • Specialist
  • Milford, OH
0
Votes |
20
Posts

This is getting confusing, HUD offer

Account Closed
  • Specialist
  • Milford, OH
Posted

So there is an hud home that we have put 5 bids on. The home was priced 108k and we put our first offer in low, we kept coming up and they told us is the minimum net would be 75,600. We saw the price had dropped at 45 days on the market. It dropped to 95,040, we thought this was our chance to get it at what we wanted our price to be around. We put an offer in that netted hud 71k and they countered at 75,600 again. If they dropped the price why didn't they drop the minimum bet as well? We are the only ones bidding on the property. Should we keep submitting the same bid or just give up at this point? Our max we want to go on the property is 72k net to hud because its going to lived in my us, needs 40k worth of work and will be worth 130kish fixed up. There is little profit in the home, but it is in a perfect location for us as it near childcare and family. I am just trying to figure out if its normal for the threshold to drop at any time or if it has a set time to drop. Any help is appreciated.

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