HUD Foreclosed Properties - Current Market

[Yadira Gutierrez]

Hello!

I have been trying to buy for a while now (unsuccessfully - due to the super high market price).

I am looking into a HUD Foreclosed property.

Understanding that I can make any offer on the property:

Are these properties being sold for the asking price, or over the asking price like the rest of the market?

Or, are these properties still having some room for a little lower offer?

This property needs a considerable amount of work.

Thoughts? The bid closes in 48 hours

Thanks!

Yadira

[Greg H.]

If you are speaking of a deadline or the Exclusive this is for Owner Occupants only. After that deadline passes it will be open to investors if no offer was accepted. The minimum acceptable bid during this time is 88% NET to HUD of the list price. That means your bid minus any closing costs(owner occupant only) and realtor fees needs to be more than 88% of the current list price. Keep in mind if another bid nets HUD $1 more their bid will be accepted