New Lenox, IL · Member since 2015 · 30 posts · 5 votes
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?
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.