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Updated over 8 years ago on . Most recent reply

User Stats

35
Posts
3
Votes
Rich Thoms
  • Real Estate Investor
  • West Haven, Connecticut (CT)
3
Votes |
35
Posts

HUD Cash vs leverage when bidding

Rich Thoms
  • Real Estate Investor
  • West Haven, Connecticut (CT)
Posted

pretty frustrated with my agent as they dont seem to know much about HUD. My question is if offering to buy in cash (refi shortly after) would tip the scale in a bid situation or does it not matter to them how the funding is sourced?

just trying to determine if saying i have the money and can close fast matters in this situation

Most Popular Reply

User Stats

4,359
Posts
4,264
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Greg H.
  • Broker/Flipper
  • Austin, TX
4,264
Votes |
4,359
Posts
Greg H.
  • Broker/Flipper
  • Austin, TX
ModeratorReplied

As @Account Closed said, it makes zero difference to HUD. The box checked on the electronic bid if the bidder is not using FHA financing states "paying cash, or applying for conventional or other financing not involving HUD/FHA". So HUD actually has no idea whether the bid is cash or financing until after the bid is accepted

  • Greg H.
  • Loading replies...