Got an offer accepted today on a HUD

[Bryan L.]

Well, they accepted the offer that I put in last night. Had been listed in the mid-50s. A couple of days ago they lowered it to 44. I put in an offer last night at 28, 200. This would result in a net to HUD of 60%. I didn't really expect to get it and was hoping for a counter-offer since I haven't even inspected the house yet. Oh well, guess I'll be driving down there tomorrow and taking a look. Hope it's as good as it looks in the pics. I'm guessing 20K in rehab based on the pics with an ARV around 75. Nope, I'm not a newbie, and I've bought several HUDs before so I know what I'm doing. But I just wanted y'all to know that you can get them for larger discounts compared to list than most people think.

[Randy King]

I download the HUD inventory for my area on a daily basis, both Actives and Solds, into a spread sheet. Over time you will see the tendencies of each asset manager for your area. How many DOM before they deduce the price, how much they reduce at each price reduction and what discounts they will take at each price reduction.