All Forum Posts by: Jeff S.

Ahh, I was wondering if that might be what it was. Thanks again!

I guess the issue is that there are certain things I just can't test before bidding because the property is winterized. The condition report would give me some sort of guideline to go by when figuring out what to offer. The usual stuff: Does the plumbing leak? Does the furnace work? Is there wiring behind those walls?

Once we have a signed purchase agreement I'll certainly have the above items tested to make sure my numbers still work. Until then, I have nothing to go on.

This is the first time I've even been interested in a foreclosure so dealing with a dark building a completely new to me.

I spoke with a sales agent today about getting the property condition report for a HUD owned home I'm interested in. The report is missing from the the hudhomestore.com website. Actually, the PCR links simply points to an additional copy of the Environmental Compliance Record. She said that if it's not on the web site it doesn't exist. What do you think? Usually these reports show some pretty important things like whether the plumbing holds pressure or whether the electrical system will even function. Of course, I plan to have an inspection done at some point, but HUD's PCR would be nice to have.

If you were in this situation, would you contact the listing broker, asset manager, or someone else to track down a copy?

Thanks for the info, all. The property currently has "Availability of home is subject to the Asset Manager accepting a bid from an earlier bid period or removing the home from the market." in the listing -- as Chris mentioned above. I've looked around online and can't figure out exactly what this means. Any input?

Thank you for your suggestion. I plan to find an agent who can show me the place and will likely make what will wind up being a seriously low-ball offer compared to HUD's numbers.

Do you know what happens with properties in the extended listing period once the "Period Deadline" is met? Do they start another 180 day Extended period at the same list price or do they adjust the list price?

I've never purchased a HUD owned home before but there is one I may be interested -- not anywhere near the current list price though. It's a UI property in the Extended listing period. The price at which it would be attractive to me would be about 60% of the current list price or about 50% of what is listed for the "as-is" price.

If nobody submits a successful bid, is the property likely to be re-listed at a lower price?

Also, I noticed the time between the "List Date" and the "Period Deadline" is 116 days. Isn't the Extended listing period supposed to be 180 days? Any thoughts as to why the discrepancy?

Thanks in advance!