Home Buying in 78414>Question Details

Morgan, Home Buyer in Patterson, CA

My husband and I offered 111,500 on a house that is listed for 103,000. It was built in 2006, two story, HUD home.

Asked by Morgan, Patterson, CA Fri Oct 5, 2012

It has Brazilian hard wood floors, three bedrooms, 2 1/2 baths. It is also 1800 sq ft, located in a gated community in the hills of Northern CA. We will find out on Monday if our offer was accepted or not. We are wondering if it sounds like we will get it? Should we have bid more?

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Answers

6
Sounds like a nice home. To "predict" what a good bid amount you will need to work with your agent and review the previous set of HUD accepted bids.

Try looking at http://www.housespin.com/data/HUD-Bids-Accepted-By-ZipCode.php
0 votes Thank Flag Link Sat Jan 5, 2013
It also needs no cosmetic work done inside or outside the home. In almost perfect condition.
0 votes Thank Flag Link Fri Oct 5, 2012
She told us to bid 110,500. We choose to bid 111,500 hoping this would tip the scales in our favor to accepting our offer.
0 votes Thank Flag Link Fri Oct 5, 2012
Why aren't you listening to your Agent?
What is he there for?

He told you how HUD works; even $111 may be too high.
But, none-the-less, HUD homes are a crap-shoot and then you move-on.

Good luck and may God bless
0 votes Thank Flag Link Fri Oct 5, 2012
We have an agent, she said we would find out my Monday if we got it or not. She is on vacation until late Sunday night with her family. I am trying to see what other peoples opinions are and their buying experiences when it comes to HUD homes. As you can tell, my husband and I are extremely anxious to find out. This is our first time home purchase as well.
0 votes Thank Flag Link Fri Oct 5, 2012
Sorry, forgot to add we would pay ALL closing costs as well. Thanks
0 votes Thank Flag Link Fri Oct 5, 2012
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