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Marian Smith
  • Real Estate Investor
  • Williamson County, TX
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Does HUD accept lower bids for BOM twice?

Marian Smith
  • Real Estate Investor
  • Williamson County, TX
Posted Nov 25 2016, 17:56
Does HUD lower accepted offer range if the property keeps coming back on market??(this one has hail damaged siding and roof not noted on HUD inspection). What about the slow season around xmas? Any urgency for them to close out the year? Same elementary school and actually nicer area all brick HUD gets marked down 20% and within days an offer of 82% is accepted. All siding HUD BOM for the second time. Just shy of 60 dom, with xmas season and quite a few area markdowns. Figured I would take the 10% markdown that is probably due in a couple of days and offer 82% of that plus 1k. But offer is rejected and no counteroffer....so I guess not even close. I assume I was the only bid as it is still listed. Location is in a small city where my niece lives with a lot of cheap properties and a handful of huds. Texas Thanks for any insight. Kind of relieved not to get the house...pretty rough shape when you add it all up. But still curious about strategy. Thanks in advance.