All Forum Posts by: Dee Clark
Dee Clark has started 1 posts and replied 2 times.
Post: Advice - First time bidding on Hud owner occupancy
- Conyers, GA
- Posts 2
- Votes 0
$280k is the list price. Should I ask my lender to pull comps or just go on what HUD has listed it for?
The property is in good shape and a good area so that's what scares me. I've read stories where the highest bid does not necessarily win. Why is that?
It seems the bidding process is so unknown.
Post: Advice - First time bidding on Hud owner occupancy
- Conyers, GA
- Posts 2
- Votes 0
I placed a bid on a HUD home on Monday.The listing opened on 3/29. This house is probably going to get a lot of bids because it's a good deal and since we went to see it a couple times, people were either there, leaving or driving by.
I'm in GA by the way. My question is with this bidding process. So many unknowns! We offered what HUD is asking and asked for 3% towards closing cost and this home is apart of the $100 down program.
Should we have done anything different? Offered more? Would the listing agent have any info about bids? I hate there is no way to know what other offers are or how many offers there are. My agent said that seemed like a good offer but i don't know if he really knows. Any suggestions or advice is greatly appreciated!