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Updated about 9 years ago on . Most recent reply

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34
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7
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Zach Ward
  • Investor
  • West Monroe, LA
7
Votes |
34
Posts

First Hud bid

Zach Ward
  • Investor
  • West Monroe, LA
Posted

Ive got a few properties under my belt but recently bid on my first HUD...haven't done much home work on HUDs so a little anxious on what to expect.

Looking at assessors website it looks like It "sold" or "refi'd" for over 70k in 2014

looking now like on market for 100 days and price has been dropped from approx. 65k down to 55.3k in 4-5k increments with most recent being a 59k to 55.3k drop last week.

I wanted to bid in 40s but apparently there are two other offers being submitted the very day I contacted my realtor so I'm bidding 52,500.00. With my inspection/visit it's almost turn key and I believe with cash flow around $200 plus a months. My main concern is what can I expect from bank since I'm use to dealing with owner occupied homes? Thanks for any input.

Most Popular Reply

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1,730
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1,512
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Jason Hirko
  • Lender
  • San Antonio, TX
1,512
Votes |
1,730
Posts
Jason Hirko
  • Lender
  • San Antonio, TX
Replied

hudhomestore.com is the official government website with all the listings. Don't Look anywhere else

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