First Hud bid

[Zach Ward]

Ive got a few properties under my belt but recently bid on my first HUD...haven't done much home work on HUDs so a little anxious on what to expect.

Looking at assessors website it looks like It "sold" or "refi'd" for over 70k in 2014

looking now like on market for 100 days and price has been dropped from approx. 65k down to 55.3k in 4-5k increments with most recent being a 59k to 55.3k drop last week.

I wanted to bid in 40s but apparently there are two other offers being submitted the very day I contacted my realtor so I'm bidding 52,500.00. With my inspection/visit it's almost turn key and I believe with cash flow around $200 plus a months. My main concern is what can I expect from bank since I'm use to dealing with owner occupied homes? Thanks for any input.

[Jason Hirko]

hudhomestore.com is the official government website with all the listings. Don't Look anywhere else