Determining Your Best Bid
Examine your reason for purchasing this property.
HUD Home Advisor has collects and maintains all of this information for every HUD home.
If you do not already have a broker, we can help provide you with a HUD specialist in your area. Learn more.
Other Bidding Considerations
If the property is priced right, the blind bidding during the owner-occupant bidding period can be very competitive. In many markets, the property may sell for more than the list price.
If you are an investor, you will make your money when you buy properties not when you sell.
If a property is not clearly a great buy, wait it out!
If you pay more than the appraised 'as-is' value and wish to obtain FHA financing, the difference between the appraised 'as-is' value and the purchase price must be paid in cash.
Weigh the above information against your needs, goals and objectives to determine a number of how much you might be willing to pay for this property.
REMEMBER THAT THE HIGHEST NET TO HUD WINS THE BID (Line 7 form 9548)!
Ask yourself, "If I bid this amount and get outbid would I say, 'I should have bid more' or, 'It wasn't worth that to me?'"
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