Cash offers on HUD foreclosures?

[Casey S.]

Are they likely to accept less on a cash offer? Ive purchased some HUDs in the past but always dealt with financing. I hear a lot of foks say they will accept 85% of asking price pretty often. Would I be better to go in at 80% of asking price on a cash offer?

Thanks!

[J Scott]

HUD bidding process follows set rules, and it all boils down to what will net more for HUD. A cash offer that nets $1 less to HUD will lose out to a financed offer that will net $1 more.

If you want to win HUD bids, focus on netting the most to HUD:

1. Higher offers
2. Lower closing costs
3. Lower commissions to selling agent