HUD Homes
Does anyone know if it is possible to buy HUD homes for less than asking? I have been to HUD's site and called but the person answering (probably a receptionist) didnt have a clue. I see two listings that might be possible but what they have listed as the price it would be possible to make anything on it.
I realize that there is a bid button there on the site but did not know what is expected. IE I would bid 20-30% lower and if they accepted then great if not, move on.
Does anyone have any experience with them?
[addsig]
It all depends on the market you're in. In Chicagoland market, it's very hard to get a HUD property in a decent area @ a big discount unless it requires extensive rehab. I don't know what the situation in PA is. Also, you can't bid on HUD property directly - HUD only accepts bids from registered brokers, so if you're interested in placing an offer on HUD property, you need to find yourself an agent that works for HUD-registered broker.
Is there a bid statistics link on the HUD site you are using?
In Colorado you can see a history of the asking prices, and the accepted bids of past sold units, which of course lets you know statistically where you stand. If you take a calculator and do some math with the information provided you can get a general idea of the average discount.
Yep, same thing in Illinois - you can see bid statistics for the HUD properties. Very useful, and available to general public.
HUD prices can be all over the board, you may see some for twice what you think they should be. Then you may find a low price that makes no sense at all.So you may to need view a 100 to find 1 that you want near the price that you want to pay. As the others have said look at the Bids in yur area and figure out what the avg. discount is, all HUD looks at is their NET so it's best to pay cash and then refi. if you need. If you watch the HUD every week you can purchase some at 60 to 70% below FMV,at least in my area.
Not bad prices at all, wish I could get that. I like berber for basements and stairs. If it it mainfloors, I would go with the regular. The berber will be much more durable.
Let me know when the final bill comes if it is 1.22 sq/ft installed. I average about 12 sq/yard out the door.
Does you price include taking away and pulling up the existing carpet, padding, installing?
Price includes basic pad and installation.
I will be removing and disposing of the carpet myself prior to installation.
Price for carpet is 10.99 sq/yd, pad included.
I have done both berber and plush. My berber costa about another 1.5 per square yard. Nobody complains about plush, some people do not like berber.
Berber in our area is usually only used on lower end homes. Rarely do I see it elsewhere.
Thanks for everyones help. Plush wins!
Ryan
I would think that neutral colors is better.....light tan is always good? Thoughts? Experiences? I think you are less likely to offend anyone with neutral rather than any color.