New HUD rules

[Chris Adams]

I just found out that HUD offers submitted on Friday are now lumped with Sat and Sun offers as a new HUD practice.

HUD does not play the highest and best game. They do a counter offer, that is an email that goes out to ALL of the people that have submitted an offer on the specific property.

This can be pretty good and pretty bad. If you want to make a low ball offer and then you can get on the email list ( or your agent can) when HUD sends out a counter offer with their lowest current acceptable price.

But your competition will get the same info.

I actually responded to counter from HUD yesterday, with an offer high then their counter to me to prevent someone from going in $100 over the HUD price.

I got accepted!

Nifty little nugget of info