HUD is the administrative agency that oversees, and is responsible for a number of federal housing agencies and programs including the Federal Housing Administration (FHA) which insures home loans in specific qualifying areas of the country from default. It is a basic report to notify HUD about the general condition of the property as well as it helps HUD catagorize and price the property including figuring possible escrow repair costs. Please let me know what you think the lowest net bid HUD would accept would be. I realize you’re just making your best guess, but I’d appreciate your opinion because of your knowledge and experience.
These previously owned houses are for sale through public auction or other method depending on the property. HUD does not open bids first thing in the morning, they usually open them mid morning or later depending on how busy they are. In order to get …