We all know real estate agents who think overbidding in an initial offer is good strategy, that you have to get your foot in the door first (as the winning bidder with that amazing offer), and then you renegotiate the purchase price later when the property doesn't appraise. I'm just going to say it right here - this is just bad practice! Actually, it's not just bad practice with HUD-Owned Properties, it won't actually work. Listen to Jeff as he explains why.