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Updated about 7 years ago,

User Stats

3
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0
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John P. Chapkovich
  • Emmaus, PA
0
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3
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HUD property bid question

John P. Chapkovich
  • Emmaus, PA
Posted

Hello, I have been trying to get answers to my questions regarding a HUD home purchase and I cannot seem to find any answers, however, I have been finding your forums very informative so I figured I would post here and see if I can get some clarity.

There is a HUD property that was listed for a 15 day bid period ending on 1/2/18. An offer was accepted and the person never signed the agreement. After that, the property was switched over on the MLS and I was notified that the property was going to be going back up by my agent (who is my buyer's agent). That night I was on the hudhomestore and did not see the listing (I was checking to make sure my bases were covered). Since the listings are put on around 5 am in my area, I went on around 4:45 the next morning and the property was listed on the home store and said that the bidding was to last until the following Monday (it was MLK Jr. weekend so the bids would be opened on Tuesday). When my agent went on to place the bid at 8 am, the property was gone. She called the listing agent and he responded with "someone must have gotten one up on you". I called the AM involved the following Tuesday and was told that the person that accepts the bids "came in early that morning and accepted a bid". When I questioned how this was possible, I was told they could do what they like with the property and immediately referred me to the HUD resource center, who were as confused as I was with the whole thing.

The property has now shown up on their bid results page and the bid was submitted on the 11th by the listing agent the day before the listing went on the home store. I did get info from HUD that said that the listing was open on the 11th but was not active until the 12th. I tried to get an answer from HUD on this but was told they couldn't help me because of the government shut down.

I would also like to add that my agent has been trying to get answers as to the same questions and she has found no one that can make any sense of it all either.

Any help would be greatly appreciated.

Thank you

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