HUD Home Offer Price Help

[Jeff Block]

I am looking at a HUD home in another state. It was listed in August, then must have had a buyer fall through, then listed again in November. It is now almost February and the home is still listed at the original list price from the first time that it was posted.

The current list price is $141k. I would like to get it closer to $100k. If I am doing the math right, I could offer $123k Net to HUD, and get the house. However, I feel like that is too much. It is a big house that needs most finishes replaced, siding and a new deck. I have done the math, and I really should be closer $115k at the top end.

Do you think they will accept an offer below the 87% net threshold given the age of the listing? I would take multiple cracks at it, but I am heading down there (11 hours) the week after it closes, and would like get my plan hatched with the contractor and inspector.

This is my first HUD purchase. Other than that I only made one other offer on a HUD, and I wasn't the highest bidder.