Would This Approach Work For A HUD Home? (Using HML)

[Jason Eyerly]

Okay, so bare with me here. I just want to make sure I understand their process. Let's say I wanted to buy this home.View Home It's a 2/1 coming in at 1,000 square feet, pretty average home for the area. The appliances are missing, I'd want to repaint it to more neutral colors, and fix up that bathroom. My contractor walks through and for all that, appliances included he gives me a quote of $10,000 but I'm gonna assume $15,000. Low Comps in the area for this kind of home are $90,000 so with those figures I want to offer $43,500 (fat chance of acceptance I think).

Do I go through the broker or whomever to submit a bid now? Or do I go to a HML and tell them what I'd like to bid, renovations, etc. get a pre-approval letter, proof of funds, and take that to the agent along with my bid?

I've found a HML who will give me a pre-approval letter and proof of funds on the spot, while I submit my deal or loan information and they can have it completed as quickly as 3-5 days. Will this work for a HUD home? Obviously I still need to schedule a viewing to get in there with my contractor.

I haven't used the deal analyzer to calculate other things like closing costs and listing fees, because I don't know how to calculate closing costs and then my sales costs, relisting, etc. Suggestions here?