HUD counter-offer percent of list

[Bryan L.]

Just to let everyone know, yesterday I got a counter-offer on a HUD home with a net-to-HUD at 60% of list. This one had been on the market, then under contract, now back on the market again. My guess is that it went under contract to some naive young o-o who either couldn't get their financing approved, or couldn't deal with the amount of repairs that showed up in the home inspection report (or their bank couldn't deal with the repairs). I had previously made an offer on it, so HUD notified me when it came back on the market. Not too sure if I will jump on it though since I have two rehabs on the market to sell, and have another REO that I have been offering on.

[Account Closed]

We got a up date from HUD that they are dropping the prices in Tennessee, Alabama, Georgia, Mississippi to free up some funds.

Joe Gore