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A complete step-by step guide for purchasing HUD Homes in Georgia. Part Four of Seven: How to bid on a HUD home?
In Part 3 of this series How do you find a HUD home in your area that is for sale? we discovered that the best way to find a suitable HUD homes is to engage a real estate buyer's agent that is proficient in the HUD buying process.
Once you have found a HUD home that is suitable for your needs, it's time to consider making an offer. In the state of Georgia, HUD uses a blind bidding process that allows each potential buyer to enter a bid prior to a clearly defined bid deadline.
Before having your buyer's agent enter your bid, you need to do several things. First and foremost, you need to read and understand the property inspection report prepared by the HUD inspector. The inspector evaluates the condition of the property in order to establish an appraised value.
Finally, before you decide on a final bid price to offer, it is imperative that you ask yourself this question:
Is it more important to you to get the house or to get a good deal? That's a fair question, and it is an important one. Some buyers fall in love with a house, and want to ensure a ... more

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