what does this mean??? - Posted by Jason S

Posted by ken on April 16, 2006 at 20:41:42:

I believe it means the minimum they will accept after the realtors commission.Check with a realtor to be sure but if you find a small broker he may cut his commission to keep it as low as possible a price for you especially if you can give him a lot of business

what does this mean??? - Posted by Jason S

Posted by Jason S on April 16, 2006 at 20:35:20:

I’ve been keeping an eye on the HUD home… Originally listed at 44,500 then reduced to 26,500. Now it says this “NOW ACCEPTING COUNTER OFFERS/MINIMUM ACCEPTABLE NET BID (LINE 7 OF SALES CONTRACT) TO HUD $13,350”

Can somebody translate this. It seems to me they are begging for a bid of at least 13,350.

Any thoughts?

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!