All Forum Posts by: Jeremy Mays

Those numbers look to be accurate here in Kentucky as well. They've kept countering me at 85% net to HUD of the list price on the property I've been bidding on that's been listed for around 30 days. A recently sold listing received a 10% price reduction somewhere around the 60 day mark from what I can gather from the site and the original MLS listing.

A follow up question, once my initial bid has been rejected and I know what their counter is, should I just wait until I anticipate a price reduction before starting to resubmit my bid on a daily basis, or should I be submitting daily regardless of the age of the listing?  Thanks again for the help!

Thanks Mike! That's just the information I was looking for. Can I anticipate a price reduction around the 30 day mark or will that not happen until it's closer to 60 days? Sounds like you got a great deal on that duplex, I'm hoping I'll be able to find some deals like that on HUD as well!

I'm a little confused about how HUD handles backup bids when evaluating offers and how that should affect my bidding strategy. On the day HUD decides to do a price reduction, do they go back and look at all the backup bids that they have on file along with any new bids submitted for that bidding period before awarding the property, or do they just look at the new bids? I'm trying to figure out if I need to be submitting my bid every day so that I don't miss out on a price reduction, or if I just wait to hear from them once they have my best and highest on file? Thanks for the help!