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Updated over 6 years ago on . Most recent reply
Bidding in a HUD home foreclosure, can anyone bid?
Can just anyone bid on a HUD home that is currently in foreclosure? Any advice is appreciated.
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
"Currently in foreclosure" would mean the foreclosure process has begun, but not been completed. There is no "bidding" at this point. The owner still owns it, not HUD.
You could Buy it from the owner now if they agree, and you’re paying off the loan balance and any other debts.
You can bid at the foreclosure auction, if you have the Cash on hand.
After the foreclosure auction, if HUD gets it back, it will be listed, your agent would submit offers thru HUD Homestore, as @Brian Pulaski mentioned.