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 over 6 years ago,

User Stats

8,666
Posts
4,014
Votes
Jon Klaus
  • Developer
  • Garland, TX
4,014
Votes |
8,666
Posts

HUD auction fraud

Jon Klaus
  • Developer
  • Garland, TX
Posted

Owner occupants get priority over investors in the HUD auctions. That means OO's can bid thousands less than investors and still win the auction.

The problem is that I sometimes get beat by an "OO" who really turns out to be a flipper/rehabber. It's not hard to notice when the "OO" puts the home up for sale again a couple months after winning the auction. Not only does this create an unfair advantage, it is fraudulent.

Just looking at my records now, I see in March one where I bid $30507, but an "OO" bid $26500 to beat me. And now this home is for sale. Craigslist and FSBO sign.

Anyone know how (and to whom) to report this activity to hopefully put a stop to it?.

Loading replies...