Need min. bid formula for FHA repos - Posted by Jeff D

Real Estate Investing Real Estate Financing
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Posted by Dave T on December 31, 1999 at 13:54:19:

Since FHA is an operating agency of HUD, I assume that the HUD foreclosure bid minimums will answer your question.

In my HUD area (Maryland) the minimum acceptable bid for HUD foreclosure properties is about 92% of list price for the first 45 days. After that the minimum drops to about 85% of list price.

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Need min. bid formula for FHA repos - Posted by Jeff D

Posted by Jeff D on December 30, 1999 at 23:43:40:

How low can a bid be and still get accepted by FHA on their repos. Is there a formula , such as __% of listing price.
Thanks Much, Jeff