He replies, send me your bid, he has a closing attorney that can handle the transaction once it is accepted.Day 2: After a several days off the grid (no cellphones or computers) & in the great outdoors I am ready to get back to work.  

I am new to real estate investing and am looking at bidding on a hud house.

I have found out however that the auction company requires a cashier's check in the amount of $25,000 plus a personal check for the difference to equal 10% of the winning bid.

We just got a request to bid on a 66 unit complex in San Jose, so my workload is going to continue to increase.

Without a qualified bid, i have no basis to put together an offer.

At this point they will take offers in a bid format. 

I have financing for the cost of the home and rehab but require the 10% liquidity on auction day as the financing for the home would come in one large payment with a winning bid.

We have the highest bid but auction ended without reaching the reserved price.

While my team and I still bid at auctions and bid on REO's, HUD Homes, Homepath, Homesteps, etc. the vast majority of my deals are coming from off market, direct sources (e.g. direct mail, bandit signs).

One auctioneer even asked me personally if I was going to let it go at such a low price and if I was going to bid today.