Asked by Pdaddy59, Grand Junction, CO • Fri Aug 10, 2012
A friend's bid on a HUD repo was accepted over other bidders at almost $5000 over the list price. The appraisal came in approx $2500 under the price. Now no lending program she can find will finance it even if she pays the difference. Is there any option with HUD to show them the appraisal and have them lower the price to make it work? They still get more than they asked for and no other buyers without cash can pay more than the appraised value.
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