House #3 in sight again

House #3 is a 2 bedroom, 1 bath two story home with a big two car detached garage, garage recently built, with a workshop, insulated walls and an AC unit.   I put in a bid a week ago for exactly 80% asking price.  It is a HUD.  An oddity of this house is there is some evidence of leakage in the basement, but no actual leaking.  This is because the previous owner, rather cleverly, sprayed that black sealant spray you see in so many late night infomercials.  The one where the guy sprays the bottom of the boat black, and then it doesn't leak.  When I first saw the house, I thought 'mold'.  But there is no mold. 

The black gunk won't really do the trick, so we are factoring in a sump pump install ($1500.00 - cheap).  I use HUDHomeValue.com to help price HUD bids.  My realtor had suggested 80%, which was well below the estimate based on days on the market.  But I've learned to trust him, so we bid exactly 80%.  Three days later, HUD countered at

$41,500.00.   This home is a smaller 3 bedroom, and is legally a 2 bedroom.  We know most cash buyers locally pick up houses when they hit 29,xxx.  Any house at $29,xxx is gone in a day or two.  The HUD closing period is a factor.  Knowing I am likely 45 days out from a close, I know a renter will be unlikely until the start of October, which gets dangerously close to the first snowfall in MN.  So I wasn't going to chase HUD up the price ladder.  I held firm, and passed on their counter offer, and started to pursue other leads.

Today, July 4th, my realtor calls and says the HUD has decided they will accept our original offer.  We will likely take it.  Home #3 in the books by August, I hope.