All Forum Posts by: Scott Bweyy
Scott Bweyy has started 1 posts and replied 3 times.
Post: HUD Minimum Acceptable Bid & Other Questions
Scott BweyyPosted
- Mount Pleasant, SC
- Posts 3
- Votes 1
Alright thank you for your replies! Wish me luck.
Post: HUD Minimum Acceptable Bid & Other Questions
Scott BweyyPosted
- Mount Pleasant, SC
- Posts 3
- Votes 1
Set me straight.
-Bidding ends Sunday for owner occupant period
-I am only bidder at 85%
-Monday morning HUD opens my bid and it doesn't meet their minimum acceptable bid and they counter at 10am
-Investor A submits bid at 11am which is meets their minimum acceptable bid during extended period
-I agree submit offer at noon which meets their counter
What happens?
Post: HUD Minimum Acceptable Bid & Other Questions
Scott BweyyPosted
- Mount Pleasant, SC
- Posts 3
- Votes 1
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:
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