Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago,

User Stats

45
Posts
18
Votes
Grant Pope
  • Mankato, MN
18
Votes |
45
Posts

HUD Accepts my offer and then takes it away

Grant Pope
  • Mankato, MN
Posted

Hello BP,

I have a scenario that just happened to me that has left me absolutely sick and I am looking for some advice.

So I found a property that was a HUD owned property and was a really good deal. The asking price was $90,000 and the house was worth a lot more. It had some issues but I was ready and able to tackle them. So I worked with my realtor and we put in an offer for $105,000 because I wanted to make sure I got the property. It was that good of a deal. Well, this morning I got a call from my realtor and received an email that confirmed I was indeed the highest bidder and that my bid was accepted. I was so excited! My first property I have ever purchased! Later on in the day I got a call back from my realtor and he had some really bad news. He said that he had mistakenly submitted our offer with an incorrect naid number and that HUD was no longer going to allow us to purchase the property. My realtor and I have been working really hard to get a hold of someone who can help us and we cant seem to get anyone who will help us. Its such a simple mistake and could be so easily corrected. The worst part is they have even stated that they may not even put it back on the market. They may be giving it to the second highest bidder. I feel like this is so WRONG. I am the highest bidder and have no way to correct this simple mistake that was made by my realtor? I was not even the one to make the error? I feel like they are stripping and stealing from me. At least put the property back on the market and let me have another opportunity to bid on it. I was going to owner occupy it as well. I feel I was doing everything they asked and I still am going to loose out on this. Is there anything I can do in this situation to some how save myself?

If anyone has any suggestion it would be greatly appreciated. I am in such a tough spot and need this property.

Thanks in advance for your help,

Grant P.

Loading replies...