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Rehabbing & House Flipping
HomeForumsRehabbing & House FlippingWorth making an offer on a Hud home well below asking?
David Robertson's profile image
David Robertson's profile image
David Robertson
Pro Member
  • Flipper/Rehabber
  • from Kansas City, MO
  • Member since Aug 17, 2010
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David Robertson's profile image
David Robertson's profile image
David Robertson
Pro Member
  • Flipper/Rehabber
  • from Kansas City, MO
  • Member since Aug 17, 2010
Connect
David Robertson
Pro Member
  • Flipper/Rehabber
  • Kansas City, MO
739
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732
Posts
Rehabbing & House Flipping

Worth making an offer on a Hud home well below asking?

David Robertson
Pro Member
  • Flipper/Rehabber
  • Kansas City, MO
Posted Apr 3 2012, 10:46

I found a HUD home listed at $88k that has been on the market for 90 days...it's first price drop was from $100k which is the 'As-is' value...it also had a pending contract that fell through in the last week...

Comparables are selling at $120-130k

Remodel Costs are $28k

Fixed Costs are $12.5k

Profit=$19k

Maximum Purchase Price=$66k

My maximum offer is $22k below asking or 25%...

Is it worth my time to make an offer? How are HUD offers generally treated?

What is usually your approach when the MPP is well below asking? Do you go ahead and make an offer or move-on?

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