Home Buying in Atlanta>Question Details

Arkla, Home Buyer in Atlanta, GA

hud home pricing $$$$$$....bid cancellation/resubmit new offer. ANY OPTIONS ,or will I be Rejected from submitting?

Asked by Arkla, Atlanta, GA Thu Aug 15, 2013

what is the likelihood of HUD accepting a second offer from a previous cancellation acceptance offer? i won a bid, BUT home need $20k in repairs. I want to resubmit another bid w/ lower offer to use excess cash to complete deal & bring home back to a livable condition. it has been under contract 5x, im sure the inspection made the deal fall through. BUT it is a hot property in a premiere location that is a guarantee sale!

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4
Arkla, you should start talking with your broker about your issues that arise. You are a agent and not a buyer. Buyers can't submit HUD offers.
1 vote Thank Flag Link Thu Aug 15, 2013
CHERYL, I'M NOT A AGENT...JUST A COMPETITIVE BUYER/SELLER IN AREA.
Flag Sat Sep 14, 2013
If it's the highest bid, your chances are good. Previous offers and cancellations do not matter to HUD.

Jen and Mark Bowman
Keller Williams on the Water
941-840-0117
0 votes Thank Flag Link Thu Aug 15, 2013
I've done it a dozen times. Usually at significantly lower prices. Where HUD does not have accurate inspections and do not allow investors to make inspections properties go under contract over and over. Once you really know what the property is and what it's worth you can make a real offer. As long as people don't understand the property they will keep making crazy offers and then walking away.


Bruce Ailion,
RE/MAX Greater Atlanta
An Atlanta Real Estate Expert Serving Clients Since 1979
CRS, CRB, ABR, MSRE, CDPE, CIAS, e-PRO, ESQ
Certified Residential Specialist
Certified Real Estate Broker
Accredited Buyers Agent
MS Real Estate and Urban Affairs
Certified Distressed Property Expert
Certified Investment Agent Specialist
203K Certified Specialist
Attorney
2050 Roswell Road
Marietta GA 30062
404-978-2281 Direct
404-386-3682 Assistant Robin
678-760-6266 Buyer’s Agent Adam
770-973-9700 Office
bruce@locationlocationlocation.com
http://www.LocationLocationLocation.com
The Linked In REALTOR
http://www.linkedin.com/in/bruceailion
0 votes Thank Flag Link Thu Aug 15, 2013
You can certainly submit a new bid. Your REALTOR should be able to submit another winning bid on your behalf. Best wishes!
0 votes Thank Flag Link Thu Aug 15, 2013
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