HUD Home: 35k price, 125k ARV, but one hitch...

[Mark B]

Hi guys,

I'm new to HUD so this may be a bit basic. I found a great rehab opportunity that I want to pursue. The house is a HUD home 3/2 for 35 k. It has been listed for about 5 days. The houses on the block range between 98k and 137k. It needs some work, but just cosmetic (I'll admit I haven't had a showing yet).

My realtor tells me that it is not available to investors until 2/26. Only available to home-owner occupant now. If this lasts till 2/26, how will the seller decide which offer to go with if several investors all submit on 2/26?

Will they go with the first offer? Or could this potentially turn into a bidding war of sorts? Is it possible to submit the offer a day in advance back dated to be the first in line? What other advice can you give me?

Thanks,
Mark