HUD Minimum Acceptable Bid & Other Questions

[Scott Bweyy]

I'm planning on bidding on a house in SC, which is in HUD Region 4. It's uninsured so it only has a 5 day exclusive bid period for owner occupants and no investors. I couldn't find much data on the minimum acceptable bid for uninsured HUD houses. I've read as high as 93%, but many numbers have said 87%, 85%, and 80% are possible depending on region for insured houses during their first bidding period. Some questions: Any ideas on what the minimum acceptable bid for this house in percentages?  If I think I'll be the only bidder and place an offer, will I have to accept the counter before the first investor bids a minimum acceptable bid? Or would they let me decide on the counter before they open any investor bids? If you resubmit a bid do you get a new bid acknowledgement number?

[Account Closed]

No one knows what the minimum acceptable bid is just bid what you want to pay.

Joe Gore