OfflineLooking for advice on this subject: Hud Homes.
I put in several offers on Hud homes and they are countering me.
When you put an offer on a Hud home you put in your offer and then there is a NET TO HUD!
So, when they counter is is NET TO HUD?
Thanks,
Jay c
__________________
Jay C
Anybody with answers on this?
Thanks
Jay C
Jay C
Jay C,
if the property has been on the market for a while, HUD may accept an offer less than their set net.
If it's a relatively new listing ie. less than 90 days, and you know that offering their net estimate is a good deal, and the numbers work for you, then I would offer it.
Good luck!
Val
Valerie
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I've found that if you offer 8% less than asking they will accept it.
The fees, commissions, closing costs... are over and above this. So, the net will be the total reduction of the 8% and the fees.
If you ask for them to pay a ton of additional costs, they may still counter it. We usually pay our own, so all HUD has to pay is the commissions and their own closing costs.
This formula has worked pretty well for a long time.