Utah hud home expert

[Nik Krohn]

I am looking to talk with a few individuals here in utah who specialize specifically on hud homes. Preferably someone who watches the price drops on hud homes and help investors with bidding on these homes.

Please comment below or even better yet, shoot me a direct message

[Jeff Rappaport]

@Nik Krohn I am not a HUD expert at all! However, I do know how the system works. The real key to bidding on HUD homes is to bid daily on the properties you are interested in. With HUD, you basically deal with a robot. Make a bid on a property at about 65-70% of the asking price. You will receive a counter offer the next day in an email saying HUD will take somewhere between 84-88% of the purchase price. At some random time HUD will lower their price for a property prior to putting the price drop on their website. Since you are bidding everyday you will be the first to know. You will need to set up a spreadsheet to keep track of the bidding so you know when you hit the price point you want on a specific property. Using this type of method, you will want to be bidding on numerous properties all the time. You will certainly need to work out something with your realtor as he/she does not want to make offers on 10 properties a day for you. This is the best method I have found to successfully bid on HUD properties. Hope that helps!