HUD Home

[Mike Jaeger]

Hello everybody. I am considering putting an offer in on a HUD home in the Houston area. It's a 4 bedroom 2 bath, about 2500 square feet with a pool and spa. Really nice home. It's been inspected by HUD and everything checked out. Good roof, foundation, and A/C. I walked through the house and it seemed that the only repairs needed was paint, flooring, appliances and a good pool cleaning. Fixed up the home is worth about $180,000 and the asking price is 94,000. I'm buying it for my primary residence. I'm looking for any good advice before I place my offer. Thanks

[Eric Tait]

I've bought about 7 HUD homes in the Houston area, I've been told by HUD brokers that you can offer about 5% less than offer price and your bid will get accepted and I have found this to be true, as long as no one else bids higher. As an owner occupant, you definitely have a better chance of getting the property