HUD Homestore - Will they take lower than asking?

[Chris Jackson]

Hi All I am about to hit the homestore. I am curious if anybody can tell me the liklihood if HUD homstore takes under asking? Also what is experience with how much % under asking.

We are cash buyers so I am not worried about POFs or the like.

I have about 15 HUDs I would put offers on that are about 15%-20% under asking.

We are experienced house buyers and have purchased through fannie mae REOs homepath etc so we know the deal but have not purchased through homestore before.

Thank you 

[Jason Hirko]

@Chris Jackson HUD uses a formula to determine what offers they will take. There are threads on here where people have outlined it. Back when I was buying up HUD houses the number was about 10% off, and then 15% off once they dropped the price, but I have heard they've changed it slightly since then.