- Find a Real Estate Professional
- Alabama Realtors®
- Alabama Mortgage Lenders
- Alabama Home Improvement Pros
- Alabama Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- More
Answers (10)
- wreglechick
- Contributions:7
Maybe this house was not listed at the appropriate price but would that be HUD's fault? Who sets the guidelines for how much a house is listed at?
- Kevin Olson, Jessica Laude, "Higher Living Team"
- Contributions:1988
The only real things you have control over in the "net" is the price offered, closing costs, and commission paid.
If those 3 factors make for the best offer, you have the best net. Simply having the best net doesn't mean an acceptance. All HUD homes I'm aware of have an appraisal done at the beginning before listing. Sometimes they list below the appraised price, and sometimes right at the list price.
If those 3 factors make for the best offer, you have the best net. Simply having the best net doesn't mean an acceptance. All HUD homes I'm aware of have an appraisal done at the beginning before listing. Sometimes they list below the appraised price, and sometimes right at the list price.
- Wade Kawahara, "Wade Kawahara"
- Contributions:69
Maybe the list price of the home was too low to start with. Have your realtor check the comps for the home.
- sunnyview
- Contributions:25139
If your latest counter offer cuts out the 3% closing cost, you may be close enough to their target for them to accept the offer. HUD is looking for the total value they want out of the house after paying closing, costs etc. For them, it is only about net numbers and ease of close.
On the bright side, most HUD homes I've seen are well priced and interest rates are really low so hopefully you'll get a good deal in the end.
On the bright side, most HUD homes I've seen are well priced and interest rates are really low so hopefully you'll get a good deal in the end.
- wreglechick
- Contributions:7
I am still mystified by this whole net thing. How am I supposed to determine what their net is? Is my realtor supposed to know this? Should he be helping me to make a better offer?
- wreglechick
- Contributions:7
Our first offer included the 3% buyer and seller agent cost plus 3% of closing cost which I was told is standard according to our agent. Our second offer is only for 3% of buyer seller agents costs and we pick up closing costs. We'll see what they say but I don't relish the idea of giving the government more than list price on a house when they are cutting my throat in my paycheck and the market is in the toilet!
- Mick Nazerali, "PullmanProperties"
- Contributions:16
HUD probably has a current appraisal in hand and would want at least list price. The property has only been on the market for three weeks. List price offer or wait.
- Nick Setting, "NickSetting"
- Contributions:484
You wanted closing costs and they look at net.
- wetdawgs
- Contributions:26854
What was included in your offer? Are you asking for seller concessions (e.g. contributions to closing costs)?
- Jon Porrey, "jporrey659"
- Contributions:475
If you were asking for seller concessions of 3-6% of sale price, they are trying to get their list price, but I would counter again, if you feel you can raise your offer, or place another higher offer, or just wait.
why a higher than list price counter offer?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.