Re: what does this mean??? - Posted by Chris in FL
Posted by Chris in FL on April 17, 2006 at 14:35:36:
I have never seen HUD do that before. Usually they hold to within a certain range, pretty close to asking price, and if they don’t sell in a certain time period they lower price a certain percentage, then try again. My past exerience is they use a set formula, and almost never deviate at all. This is a new one on me. It sure sounds like they are begging for an offer of $13,350 net (which would indicate after reducing by their closing costs, etc.). They sound desperate, so stop asking for a translation and find out ‘why?’. ‘Is this property a bargain or not?’ is the question you should be trying to get answered, and asap. Best wishes!