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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] How much should I bid?? Posted by Gene B. on September 24, 2003 at 11:39 AM I'm interested in a home that HUD has listed on their site. The property was listed in May of this year and was valued "As-Is" at $130,000, which I and the agent feel is high for this home in the shape it's in. The property has since been reduced to $105,000 due to severe water damage and mold. Additionally, the home was built in the 60's, LBP and is categorized U/I. My real estate agent is as inexperienced with foreclosures as I am so we're wandering what strategy should we follow and where to start the bidding. For instance, if we offer a low amount, do we need to present our own appraisal or documentation to justify our bid? Facts: Major damage due to water infiltration. This will be an "owner occupied" purchase. Winter here starts in mid November (Water pipes are not drained and snow can cause additional damage due to roof) No one else has ever bid on the property. Replies are appreciated!! Follow Ups: Re: How much should I bid?? Pattyk 4:43 AM, 09/25/03 (0) Re: How much should I bid?? Bill H 6:26 PM, 09/24/03 (0) Re: How much should I bid?? damien 3:48 PM, 09/24/03 (3) Re: How much should I bid?? GeneB 5:23 PM, 09/24/03 (2) Re: How much should I bid?? SeanW 6:01 PM, 09/24/03 (1) Re: How much should I bid?? damien 11:11 PM, 09/24/03 (0) Re: How much should I bid?? alan 12:34 AM, 09/24/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I'm interested in a home that HUD has listed on their site. The property was listed in May of this year and was valued "As-Is" at $130,000, which I and the agent feel is high for this home in the shape it's in. The property has since been reduced to $105,000 due to severe water damage and mold. Additionally, the home was built in the 60's, LBP and is categorized U/I. : My real estate agent is as inexperienced with foreclosures as I am so we're wandering what strategy should we follow and where to start the bidding. For instance, if we offer a low amount, do we need to present our own appraisal or documentation to justify our bid? : Facts: : Major damage due to water infiltration. : This will be an "owner occupied" purchase. : Winter here starts in mid November (Water pipes are not drained and snow can cause additional damage due to roof) : No one else has ever bid on the property. : Replies are appreciated!! Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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