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Updated about 5 years ago on . Most recent reply

User Stats

93
Posts
58
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Rebecca E.
  • Wisconsin: Eau Claire and Rapids
58
Votes |
93
Posts

Question about offer letter from a non-agent

Rebecca E.
  • Wisconsin: Eau Claire and Rapids
Posted

Yesterday I closed on a hudhomestore house. It was listed at 83k, which is what I thought was the ARV. I had never bought from HUD so I just thought I'd play and offer a bid. Based on my walkthrough, I thought I could offer 60k and make a decent cashflow as a rental once some cosmetic stuff was done.

Now for the question. The day that I made the offer, unbeknownst to me, HUD dropped the asking price to 55k. Instead of informing me of that, my agent just changed the number on my offer and submitted it. She told me the next day. Is this normal? I feel like if the situation changes in a way that there is no way I could have knowledge of but MY agent is aware, she should tell me

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