Hello BP family I am interested in purchasing a property under Hud Guidelines 24 CFR 206.125. My question is the price that was set by Hud set in stone or are they flexible any on the pricing. I am going to put in an offer on such a property later today and was curious if anyone here has any insight? Also, how do I know if the agent is showing the offer to Hud or could the agent not making the offer in order to receive a larger commission?
Any feedback would be greatly appreciated.
The property is an FHA reverse mortgage foreclosure and must be sold per guidelines for full price for the first 120 days on the market
This may sound like a silly question but, it has beed pas the 120 days. Is their any truth that they maybe willing to accept an offer if it is 95% of asking price after the 120 days?
The property Must sell for 95% of the current fha appraisal, for the first six months or so anyway....this was a reverse mtg foreclosure. The listing price is typically this number.....take it or leave it. Your offer should go directly onto the hud home store website, I believe, even with a RM REO.
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