Purchasing First home through HUD

[Jeffrey Jones]

My wife and I are about to put a bid on a HUD house and have just missed the exclusive bidding period and the bid is now in the extended period for all bidders. My questions are:

1.  Does that mean no one during the owner occupant period put in an acceptable bid?

2. If the asking price is 404k, what is HUD expecting to get on this house?

3.  Do they review bids as they come in or could there conceivably be bids from the owner occupant period that have not been reviewed?

4. Should I be more aggressive with my bid?

Considering offering 400k and as for 10k of closing costs from seller.  City assessment is 404k.  THoughts?