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Updated over 6 years ago,
HUD foreclosure bid question
Hi everyone,
Back in August of 2017, I found a HUD foreclosure on the MLS, contacted an agent, walked through it, and placed a bid. The property was listed at 55k. I put a bid in for approximately 65k. The next day, the agent called me and said I was outbid but could receive a call back if things fall through and I become the next highest bidder.
I was monitoring the property over the last 7 months or so out of curiosity to see how much it sold for just to see how much I was outbid by. The property was pending all that time. Recently, I got a Zillow update telling me that the house sold for 56k. I looked at the price history and it looks like the property went on and off the market once or twice in those 7 months.
Technically, should I have gotten a call? Is this a mistake on the realtors end? From comps in the area and my expected costs for a rehab, the property could have made me a pretty penny. However, I feel like I was stripped of that. What do you guys think?
Thanks in advance!