HUD Counteroffer Received - First Timer
Hi BP, newbie investor here...well, been actively looking since the beginning of 2016 but no contracts signed yet. After making more than a few offers on properties so far this year with no results yet, I decided to take the plunge into HUD Homestore and start making offers based on some great advice I read in other BP Forum topics.
Today I received a counteroffer to one of my bids, which is encouraging. HUD's counteroffer is above my maximum allowable offer. I'm encouraged though because we are not too far off. HUD says it has set the minimum acceptable net to HUD as x. If I counter at x minus $10,000, I know the answer will be no. My question is is it better to submit a counteroffer to show HUD that I am still interested in purchasing the property, just not at their price...or do they look at it unfavorably because I am submitting an offer that I know will be rejected?
For the record, I am inclined to submit a counteroffer, but curious to hear from those w/ firsthand experience bidding on HUD properties through HUD Homestore. Thanks.