HUD question? (RE agent, agent, price, property)

[casey]

Can an agent who is registered with HUD place their own bid? Can they use a corporation or relative?

[MrRational]

Originally Posted by casey

Can (a licensed RE agent) place their own bid?

On the same property at the same time where they are representing a buyer?

[AZJoeD]

Of course they can place their own bid, if they meet all other qualifications. Can they bid using a relatives name? No, not unless the relative wants to buy. Using a phony name is fraud.

If they are representing a buyer and bidding on the same property it would be unethical, since they know the buyer's information.

[casey]

It's kind of a generic question, just wondering if an agent sees a house way under market value and knows it's a great deal.

[MikeJaquish]

Originally Posted by casey

It's kind of a generic question, just wondering if an agent sees a house way under market value and knows it's a great deal.

I can bid on HUD homes.
There are no secrets.
If I see a HUD house, a thousand other agents see a HUD house. So do consumers, and at least here, HUD homes go to owner/occupants first.

The advantage agents have is that most agents can estimate market value better than most consumers. Particularly if the agent has good sense of the price of renovations.