This week the number of HUD listings available to all bidders hit a new high with 69 homes. We begin to see the impact of the loss of incentives for owner occupants.
The larger selection of Columbus HUD homes spells opportunity for investors. It has been a while since so many nice, suburban residences were available to all bidders, including homes in Reynoldsburg, Grove City, Blacklick and Canal Winchester.
Here’s a perfect example of a HUD home in Delaware that may be perfect for investors or owner occupants that want to play the HUD homes bidding game. This specific house is located at 233 Niatross Pl in Delware. It is currently listed for $150,000. It may not be the best deal at that price, but HUD will certainly accept lower offers.
So, how can you determine the lowest offer HUD will accept?
Obviously, nobody knows for sure what HUD will accept. Sometimes they even surprise us on the low end. So here’s a strategy you can use for HUD homes have a daily bid deadline. All homes on our weekly bargain hunters list are in daily bidding and available to anybody.
The daily deadline means that you may submit an offer on one or more HUD homes every day. You will know the next morning, if your offer was accepted. If HUD did not take your bid, you can make a small adjustment, maybe increase your offer by 1% or so. I will resubmit this new offer on the same day, and by the next morning we will have an answer.
Using this strategy you will ensure that you get the lowest possible price on a HUD home. It may take a few days or even weeks and somebody else may steal the deal away from you.
Keep this in mind! There is less competition on homes with daily deadlines, so your chances of getting a low offer accepted are very good.
Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650
