Real Estate

How to Buy a HUD Home: Investor and Owner Occupant Guide

Last Updated on March 29, 2023 by Mark Ferguson

HUD homes are a great opportunity to get a great deal, but HUD has very different rules for investors and owner-occupants. HUD homes are foreclosures that had FHA loans, which are now owned by the United States government. I used to sell HUD homes as a real estate agent and was a part of hundreds of transactions involving HUD (I mostly invest in real estate now). HUD can be very confusing to those are not familiar with there system, but it makes sense once you know all the rules. There are different rules for investors and owner-occupants. There are also special programs for HUD homes like the good neighbor next door, and the $1 down payment program. We will go over everything in this article!

What are HUD homes?

HUD homes are government-owned foreclosures. HUD stands for the Department of Housing and Urban Development. HUD oversees the FHA loan program, which stands for Federal Housing Administration. FHA loans are low-down-payment loans that are only owner-occupied buyers are eligible for. The loans are obtained from banks, but the government insures them. If the loans go through foreclosure the government will sometimes take over the loan and the property from the bank. The bank has the option to keep the property, and HUD does not approve every FHA insurance claim so not all FHA foreclosures go back to HUD. When HUD takes back an FHA foreclosure they will use their own online bidding system to sell the homes in most cases. They will also use bulk sales (hundreds of millions of dollars of homes) to sell packages of properties.

Where can you find HUD homes?

The most important thing to know about HUD homes is HUDHOMESTORE.COM. HUD lists every house they have for sale on this website and anyone can view it. To search for HUD homes, simply enter the state you are looking in and any other criteria you want to narrow it down with; city, zip code, address, etc. Once HUD accepts a bid they remove the property from If you see a sign in the yard or property in MLS but can’t find it on they may have already accepted a bid. There are a few other reasons the property may not be on the site including price changes or new appraisals.

Check out the video below to see how to look up and bid on HUD homes:

How can you submit a bid to buy a HUD home?

HUD has very strict bid periods on who can bid and when. When HUD homes are first listed there is a bid period for owner-occupants, non-profits or government agencies. Investors cannot bid during this bid period, and the length of the bid period varies depending on the home. HUD homes have an appraisal done before they are listed and homes that will go FHA are listed as insured and the properties that won’t go FHA are listed as uninsured. If a property is insured, investors cannot bid for the first 15 days! If a property is uninsured, investors cannot bid for the first 5 days.

When you are looking at a listing on look for the period deadline, it will give the last day owner-occupants, non-profits and government agencies can bid. Investors can place a bid the next day after the period deadline expires. If a property is still on the day after the period deadline expired, it does not mean HUD did not receive an acceptable bid. HUD reviews bids the first business day after the period deadline, and the property could be on the website for a short time in the morning while they review bids.

This can be very confusing the first time you try to process the information, but it gets easier the more you use The thing to remember is investors can bid on the first day after the period deadline. If you are unsure who can bid, HUD will list who the eligible bidders are on When investors can bid it will say “All bidders.” A good real estate agent who knows the HUD system can walk you through the process as well.

In fact, you have to use a real estate agent who is approved and registered in the HUD system to bid on HUD homes.

What does FHA insured with repair escrow mean on HUD homes?

HUD does not allow any repairs to be made to properties and typically does not repair any of their properties. However, HUD wants to sell homes to owner-occupied buyers and many HUD homes need some repairs that would not allow them to qualify for FHA financing. HUD uses an FHA repair escrow to help owner-occupied buyers get into these homes. The amount on under FHA repair escrow is the amount that a HUD appraiser has determined it will take for the home meet FHA guidelines. The escrow could be $0, in which case the home does not need any repairs in order to go FHA. If there is any other amount, the home will have to have some work done to qualify for an FHA loan.

The escrow repair amount is added to the buyer’s loan at closing, it is not a gift from HUD. The work is to be done after closing by licensed contractors within 90 days, and the lender will pay out the escrow amount directly to the contractors.

The details of each item that needs repair are listed under the addendum on The total repairs cannot exceed $5,000 for the FHA repair escrow. HUD adds a ten percent cushion if the repairs cost more than expected, so technically there could be $5,000 in repairs and a $500 cushion for a total escrow amount of $5,500.

If the buyer gets a new appraisal that shows more work is needed, that must be added to the FHA repair escrow.

If the home is marked as uninsured a buyer cannot get a typical FHA loan, but they can use an FHA 203k loan.

Can I use the HUD repair escrow on other types of loans?

No, the repair escrow can only be used on FHA loans.

Can you use FHA 203k rehab loans on HUD homes?

If a home needs more than $5,000 in repairs to qualify for FHA, there is still an FHA option. The FHA 203k rehab loan is a great program that allows a buyer to make repairs after closing and finance them into their loan. There is no limit to the dollar amount of repairs that can be made, but it can be a complicated process. This program can be used on a house with less than $5,000 in repairs as well if the buyer wants to make more repairs than FHA requires. The loan can also be used on uninsurable homes as long as it is marked on that an FHA 203k is being used.

A 203k loan requires two appraisals, one for the as-is value and one for the after repaired value. The loan also takes longer to close and has a few more fees than a normal loan, but it is a great option for those looking to make major repairs.

What is the Good Neighbor Next Door Program?

The Good Neighbor Next Door Program (GNND) is a HUD specific program geared towards EMTs, teachers, firefighters, and law enforcement. HUD designates certain houses for this program and they will give a 50% discount to qualified buyers! In order to find these properties, go to and click on Good Neighbor Next Door Program in the blue box. Then click on your state on the map to the right of the blue box. This will pull up all GNND properties in your state. Do not be surprised if there are not many properties available as HUD designates very few properties for this program.

HUD also has very strict policies regarding who can bid on GNND properties. The buyer must be a full-time employee in their field, work within a certain mileage of the property, and live in the property for three years. Bidding on a GNND is very simple. Your agent submits the full price in the GNND bid period and if HUD accepts your bid, they automatically discount the property 50%. These properties are not always in MLS, so check frequently to find these listings.

HUD does not pay a commission on these properties to the listing or selling agent. Many times the agent representing the buyer will require the buyer to pay a commission directly to the buyer’s agent. If more than one buyer bids on these properties, HUD will randomly select the winner.

HUD bidding timelines

For insured homes:

  • 15-day owner occupant, government agencies, and non-profit only bid period. The first ten days of this bid period HUD collects all the bids and subsequently review them on the next business day. Thereafter for the next five days, HUD reviews any bids received the following day. (not sure if they review them the same day or the day after the bid is received during this time)
  • Investors can bid on the 16th day the home has been actively for sale. You can see this date by looking at the period deadline. Investors can bid on the next day after this deadline.
  • If the price is lowered, the owner-occupant period does not start over. Investors can bid right away.

For uninsured homes:

  • 7-day lottery bid period. Government agencies and non-profits only can bid. The home is listed on HUDhomestore, but not on the MLS.
  • 5-day owner occupant, government agency and non-profit only bid period. HUD accepts bids the first five days and opens them the next business day. Investors can bid on the 6th day.
  • If the price is lowered, the owner-occupant period does not start over. Investors can bid right away.

Are HUD homes listed for sale on the MLS?

HUD will list some properties differently depending on the repairs needed and potential buyers’ qualifications. On uninsured properties, HUD will list them on Hudhomestore for 7 days, but the only eligible bidders are non-profits and government agencies. During this 7 day period called the lottery period, some asset management companies will list the home in MLS and others will not.

Another program HUD uses is the Good Neighbor Next Door Program(GNND). They sell designated houses to firefighters, police officers, teachers, and EMT workers. There are many special requirements that must be met to purchase a home in this program, one of them is you have to occupy the home for three years. Since the property is not eligible for all buyers, some asset management companies list them in MLS and some do not. If you see a property in Hudhomestore, but it is not in MLS, check to see who the eligible bidders are.

How can you submit a bid?

A buyer must use a real estate agent registered with HUD to submit a bid on a HUD home. If you are shopping for an agent and you are interested in HUD homes, ask your agent if their company has a NAID number. If they don’t have a NAID number, then they can’t submit a bid for you. Any office can get a NAID, but it can take up to 6 weeks to get a NAID number from HUD. If your agent’s office has a NAID, they can register on Hudhomestore and submit a bid for you very easily. The bid is submitted online and no documents are uploaded with the bid. HUD does require the social security, tax id or EIN number for the purchaser to submit the bid.

What happens after a bid is submitted?

HUD will only respond to your agent through email if your bid is accepted. If your bid is not accepted, HUD will not notify your agent, but your agent can look up the bid status. Your agent has to log in to HUDHOMESTORE.COM and go to bidder functions. They can search for bids they submitted, and HUD will list the bid status. It may say reviewing bids, accepted, canceled or other bid accepted. If your bid was not accepted and no other bids were accepted you can bid again as many times as you like. In some cases, HUD may counter your offer, but their counter is only a notification informing you of what net price HUD will accept. If you enter a bid that nets HUD the counter price or more, they will accept it as long as no one else submits a higher bid.

How low of a bid will HUD accept?

A buyer can submit any bid amount they want on a HUD home, but HUD has certain guidelines they will accept. Those guidelines change in different areas of the country and for different properties. The asset management companies are given guidelines from HUD on what bid amount they can accept. Usually, they are allowed to accept a net amount of around 10 to 12 percent less than asking price (in my area). The net amount is what HUD will receive after commissions and closing costs are paid.

HUD always pays the listing broker a 3% commission and the selling broker can get up to a 3% commission. If HUD is paying a 6% commission total, then that net amount they will accept has dropped to 4 to 6%t less than the list price. If the buyer wants closing costs, then that amount drops even further.  If a property becomes an aged asset, meaning it has been on the market for more than 60 days, HUD may accept lower bids. In different parts of the country, HUD may also accept 20% less than asking price at the beginning of a listing period.

Here is a breakdown of what HUD may typically accept:

  • Asking Price:               $100,000
  • Commissions:                  $6,000
  • Buyer Closing Costs:      $3,000
  • Net to HUD:                    $91,000 or 91% of the list price

In the scenario above HUD would most likely accept a bid slightly lower than the list price of $100,000 like $98,000. If the buyer did not need closing costs paid, the bid could be lowered by $3,000 and HUD would still accept it because the net money going to them is still the same.

There are also occasions when a low bid that does not meet HUD guidelines is accepted. This usually happens on aged assets that have been on the market over 90 days. The asset management company can ask for special approval from HUD on these low bids. When this happens your agent may receive a counter from HUD in the morning and then an acceptance later in the day. This is because the asset management company could not accept the bid right away, but they sent it to HUD and it was approved later in the day.

Does HUD prefer cash offers?

Many buyers assume a cash offer will get accepted over a financed offer since cash offers have a better chance of closing. However, HUD does not care. They treat all offers the same whether they are cash, FHA, conventional, USDA, VA or even a 203k FHA rehab loan. HUD will pick the highest net offer to them, that is all they care about.

How soon should investors submit a bid to HUD?

The key to an investor getting a HUD home is speed. There are many investors waiting for HUD homes to make it to the investor bid period, and most good deals will get bid on the first day an investor can bid. On uninsured homes, there is a trick investors can use to gain an advantage over other investors. HUD opens bids on the next business day after the 5-day owner occupant bid period is over. HUD does not open bids first thing in the morning, they usually open them mid-morning or later depending on how busy they are. At the beginning of the 6th day, an uninsured HUD home will be available for investors to bid on, even though HUD may be accepting an owner occupant bid later in the day.

Investors should always try to get their bid into the system on that 6th day because HUD homes tend to fall out of contract more than other properties. If an owner-occupant cancels their contract, HUD will move on to any backup offers in their system that are an acceptable price before they put the home back on the market. If the house comes back on the market, an investor who bid on the 6th day could have their bid accepted, before any other investors get a chance to bid on the home.

Should you mark hold as a backup offer?

YES! HUD asks all bidders if they can hold their offer in a backup position. This means if an accepted offer cancels, they will automatically accept the next highest bid as long as it is an acceptable amount. It does not hurt to mark this box as you are under no obligation to continue with the contract if HUD accepts your bid. If HUD lowers the price on a property, they will review bids they have already received to see if they are now an acceptable amount after the price change. Your bid could be accepted before anyone else gets a chance to submit a new bid after the price change.

How to send in a contract after your bid is accepted

If HUD accepts your bid, they will notify your agent by email and give your agent instructions on how to send the paperwork to HUD. Your agent will have 48 hours to send the original documents to HUD (HUD may be allowing electronic signatures in some areas now). That 48 hours is extended for weekends and holidays. HUD has its own sales contract, addendum, and disclosures. They will require a pre-qualification letter or proof of funds letter if you are paying cash, and your earnest money must be sent with the package.

HUD requires certified funds for your earnest money. Your agent should be able to help you out with the package and explain all the details. There are a couple of very important documents to pay attention to that I will go over in the next sections. If your package is going to be late, make sure your agent contacts HUD and tells them it will be late and HUD may give you a little extra time. If your package requires corrections, HUD will email your agent and usually, corrections are due within 24 hours.

Buyer Select title company update

HUD has switched to a buyer agent select system where buyers now choose the title company. Buyers choose the title company for the entire transaction and can choose any title company they want. HUD will get the title company registered with HUD, once a bid is accepted and a title company is chosen. The asset management companies are handling things differently with some having the listing agent hold the earnest money and some requiring the buyer to send in the earnest money to HUD. Make sure you read the instructions thoroughly for what HUD requires.

How to complete an inspection on a HUD home

HUD has a different inspection policy than most REO sellers. When HUD has a property listed, they do not turn on any of the utilities. When HUD signs your purchase contract, they will email your agent a signed copy with the appraisal and a utility turn-on request form. You have 15 days from the time HUD signs the contract to do your inspection, and they allow you a three-day window to turn on the utilities. It is usually best to make your three-day inspection window as late into the 15 day inspection period as possible. The reason is you have to send in the form to HUD’s property preservation company, wait for them to approve it and then get utilities on in your name. It can easily take over a week to get the form back and get utilities on so make sure your agent turns in the request form as soon as possible.

HUD does not pay for the utilities or any turn on fees and they do not de-winterize the property. In fact, if you live in an area that requires winterization, you will have to send in $150 with your turn on request form if you want to turn on the water during the winter season. Most areas require the winterizations from 10/1 to 4/30. This fee is for the property preservation company to re-winterize the property after you complete your inspections. If HUD found the property’s plumbing system did not hold pressure during an air test, they will not allow you to turn on the water.

If you find issues during your inspection, you have two choices; cancel the contract or proceed with your contract knowing HUD won’t repair anything. They are very clear HUD homes are sold in as-is condition, and they will not make any repairs, even if the lender requires it. They are also very clear that they will not return your earnest money if you find inspection issues that cause you to cancel your contract. As I said earlier, HUD does an inspection before listing each property, and the basic results are listed on HUDHOMESTORE.COM. To find the inspection, look under addendum on HUDHOMESTORE and you will see a document called PCR. This will list the general condition of the plumbing, electric, HVAC and roof. Do not depend on these inspections to be perfect! Many times the HUD inspectors are only able to do a visual check since the utilities are not on.

How to do an appraisal

HUD does an appraisal on every home before they list it. HUD used to list every home at the appraised value, but that changed recently. Owner-occupants used to be able to use this appraisal if they are going FHA, but now all buyers must get a new appraisal. If your appraiser requires the utilities to be on for the appraisal, you have to follow the same procedure to turn on utilities as you did for the inspection. The best practice is to schedule the appraisal at the same time as the inspection if possible. The biggest issue I see with appraisals is the plumbing. HUD’s inspector will do a pressure check on the plumbing system before the home is listed. If the pressure test fails, it means there is a leak somewhere in the system.

That also means HUD will not let you turn on the water for your inspection or appraisal. If the system fails the pressure test and your appraiser requires the water to be on, you are out of luck. HUD won’t repair the lines and no repairs can be made before closing. Please pay attention to the HUD inspection before bidding and talk to your lender about the appraisal process. I have seen many deals fail because the water could not be turned on for appraisals on HUD homes. If you have already had your bid accepted and you have run into this issue, there are a few solutions. Many times a lender can escrow for plumbing repairs or a portfolio lender may be able to do the loan without utilities being on.

The other issue that may come up is an appraisal comes in low on a HUD home. This is rare, as usually HUD homes are priced low enough that an appraisal value is not an issue. If the appraisal does come in low or the appraisal requires repairs, HUD does not make repairs or price adjustments. Again the only choice will be to cancel or continue with the original bid price and terms.


Different asset management companies give different time frames for closing. Some allow cash buyers 30 days to close and financed buyers 45 days to close. Other companies allow 45 days for cash and financed buyers. If you must have an extension due to your lender or other fault of the buyer, then HUD will charge you for an extension. Typically the fee is $375 for a 15 day extension day but can be lower for lower-priced properties. The exact fee schedule is listed on one of the HUD forms you will sign. HUD will grant two extensions, but if a third is needed HUD will need proof that closing is eminent or they may not approve the extension.

Another difference with HUD is they do not pay for the buyer’s title insurance. Make sure you factor that into your figures when bidding on a HUD home. HUD does not require title insurance, but I highly recommend you get it. HUD does the best they can, but they are dealing with other lender’s homes that were foreclosed on and had FHA financing. Sometimes a title issue will slip through the cracks, and if you don’t have title insurance it can be a nightmare to get it cleared up. I sold a HUD home a few years ago that was owned by a large bank. 6 months after the sale, we learned the bank did not have clear title. The title company was able to clear it up, but if the buyers did not buy the insurance it would have been on them to figure out how to get a clear title.

Can investors get their earnest money back?

HUD is very clear that they treat investors differently than owner-occupant buyers. They feel investors are more experienced in real estate and should do their due diligence before making an offer. HUD makes investors sign a document saying their earnest money will not be refunded for inspection issues.

HUD may return half of an investor’s earnest money if their loan is denied, but remember it is very difficult for an investor to get their earnest money back from HUD if they cancel the contract. The earnest money amounts are $500 for contracts under $50,000 and $1,000 for contracts over $50,000.

Can owner-occupied buyers get their earnest money back?

HUD has very strict policies on earnest money returns and forfeitures. Investors have a very difficult time getting their earnest money back, but it is a little easier for owner-occupied buyers. HUD lists many reasons why they will return owner-occupants earnest money, the most common being loan denial. When you sign your contract, there will be a form called earnest money forfeiture policy. Make sure you read this carefully and understand exactly under what conditions HUD will return earnest money to buyers.

If an owner-occupant wants to get their earnest money back due to an inspection issue, make sure the inspeciton issue was not already listed on the HUD PCR (property condition report). If HUD already disclosed a problem with the house, HUD will not return the earnest money because of that problem.

How does HUD define owner-occupied?

The only way a buyer can be considered an owner-occupant is if the person living in the home will be on the deed when HUD sells the home. That occupant has to live in the home for at least a year and cannot buy any more HUD homes as an owner occupant in that first year. They must live in the home more than 50% of the time. You cannot simply leave the home vacant or leave a unit vacant. You must live there.

What happens to investors who commit fraud?

HUD makes owner-occupants sign a document confirming they are an owner occupant and if they are found to be an investor, HUD can fine them $250,000 with prison time. It is a federal crime to misrepresent yourself as an owner occupant when your true intention is as an investor. Not only can the buyer be fined and sent to prison, but the buyer’s agent and their entire office can also lose their ability to sell HUD homes. If you think you won’t get caught, remember there are many investors who would love to bid on HUD homes but can’t because of owner occupant rules, and they have no problem turning in other investors they see breaking the rules. Listing agents are also encouraged to keep an eye out for investors posing as owner-occupants.

Can repairs be made prior to closing on HUD homes?

HUD is very clear that they will not make any repairs prior to closing and the buyer is not allowed to alter the home in any way before closing. Some buyers may think it is not a big deal to fix a small plumbing leak or do some painting before closing. It is a very big deal! HUD homes are federal property and it is a felony to make any alterations before you own the home. If HUD finds out any repairs were made, they usually cancel the contract on the spot, take the buyer’s earnest money, investigate the buyer’s agent to see if they knew about it and then consider charges depending on the severity. Do not make any repairs, change the locks, remove signs or anything from the home before closing!

Owner-occupants have a distinct advantage when bidding on HUD homes. HUD allows owner-occupants to bid on HUD homes before investors can bid on HUD homes. On FHA-insured HUD homes, there is a 15-day owner occupant only bid period. Without going into the detail that I do in my other articles, FHA-insured HUD homes can get an FHA loan if the property needs less than $5,000 in repairs. On FHA-uninsured HUD homes, there is a 5-day owner occupant bid period. FHA-uninsured HUD homes have more than $5,000 in repairs needed and cannot go FHA unless you use an FHA 203K loan.

Under what circumstances can an owner-occupant sell a HUD home prior to living in it a year?

HUD allows owner-occupants to move out of a HUD home prior to living in the home for a year if they meet certain guidelines. It is always best to call HUD if you have to move out of a HUD home early as an owner occupant. If an owner-occupant has a change in location for a job, a death in the family, divorce, loss of a job or other extenuating circumstances, HUD may ease the owner-occupancy requirement.

How does the $1 HUD home and $100 down payment program work?

HUD will sell some of their homes for $1. Yes, that is not a typo, but do not expect to get a HUD home for that price. HUD only sells certain homes for $1 and they only sell them to non-profits or government agencies after the home has been for sale for an extended period of time. I never saw a home sell for $1 in my market the entire time I was listing HUD homes.

HUD also has a $100 down payment program that they occasionally offer. It is not available in every state and it is very rare that a buyer only needs $100 to buy the home. There are almost always other costs.


HUD homes can be complicated, but if you have a knowledgeable agent and lender they can be an amazing opportunity. If you happen to be eligible for the good neighbor next door program you may be able to buy a HUD home for 50% off! Just be careful pretending to be an owner-occupant when you are not, and make sure you understand the inspeciton and earnest money riles with HUD homes!

In my course The Complete Blueprint, I go even more in-depth on how to buy HUD homes. The Complete Blueprint is my most extensive course it covers every single aspect of my real estate business and how to replicate it yourself, including a 300-page guide, videos, call to actions, live coaching directly from me, an much, much more.

134 thoughts on “How to Buy a HUD Home: Investor and Owner Occupant Guide

  1. Mark,

    Can listing agents show HUD properties to investors during the initial owner occupied purchase period?

  2. Great article. Do you know how long a buyer has to hold onto a HUD property if it is purchased as a investor?

  3. If you are an authorized HUD Brokerage (as we are), and work with investors, there are a number of “management programs: available to assist you in tracking your business. These are usually as simple as an excel spreadsheet to track investors, properties, offers, counter offers, etc. so you can manage.
    An important key piece is a relationship with a title company that is authorized by HUD, and also understands and supports an “A to B, B to C” transaction.

    1. Hi John, Yes we have programs to track all our clients. Follow up is extremely important. Any title company can do a HUD closing at this point, but there are not many that like the double closing.

  4. If you purchase a HUD home and do not have a mortgage on it, can you sell it before that one year mark? Can you rent it out?

    1. It does not matter if you have a loan or not. HUD rules apply to cash or financing. You can’t rent the home or sell it before the year is up as an owner occupant buyer unless there are extenuating circumstances like a job relocation, death in the family, job loss etc.

  5. Hey, just checking to see if you know anything about the hud changes made last night. I have bought and sold several hundred hud homes in the past three years. Don’t know if you noticed the changes, but you can’t see the as is value anymore. I wonder if it is to throw investors off from getting hud’s super cheap.

    1. Hi Steven, I did notice that and my HUD contacts informed us to stop marketing any as-is value, which was the appraised value. They did not give us an explanation, but I have heard HUD is listing homes higher than the appraised value in some areas. I don’t think it has anything to do with investors. I think they will still sell homes cheap to investors if they are aged assets.

  6. Wow…this information is very informative! Thank you. We are bidding on our second HUD home in a few days once it opens to investors (first one fell through – realtor didn’t understand HUD process). My question is does it matter when you bid during the day during that bidding period? I have heard you get a confirmation number that can give you some insight as to how many bidders have bid on it before you. We are thinking we may bid closer to when the bidding period closes. Is that wise? Thank you so much in advance.

    1. Sorry for the late response ! I have been in Mexico. It doesn’t matter when you bid in the bid period as far as HUD is concerned, but yes the later you bid you could see how many bids there are and that could give you an idea of how much to bid.

  7. Hello Mark,
    Is there a set rule for when HUD will do it’s first price drop of 10% on the listed price? I thought in the past it was 45 days but there is a property I have been following and it is on day 53 and still has not dropped. Thanks for your time I appreciate it.

    1. usually between 35 and 45 days. That is 35 days active on the market. if the home goes under contract the days stop. It could be on the market 53 days, but was under contract 30 days. To HUD it is only on the market 23 days.

  8. Mark –

    Awesome article! I would be an owner occupant, the first bidding period is 12 days. If I bid today, will HUD review my offer tomorrow morning? (We are still in the owner occupant/nonprofits/government agencies bidding period only.) Or will they wait for this period to be over first and then review all the received bids after the 12 days is up? Its make a difference on what I plan to bid – lowball now v. highest/best offer on the last day.

    Thanks Mark! I’ve seen a dozen HUD homes, but I seem to know more than my realtors at this point, still waiting for a great deal 🙂 (lets keep the HUD market a secret, okay? Haha)

    1. Thank you Samantha, They review all the received bids after the first ten days or the next business day id that days falls on a weekend or holiday. Since it is Thursday I am assuming they did not receive any acceptable bids in the first ten days. If that is the case then they will review all bids from now on the next business day.

  9. I’ve purchased a hud home as an owner occupant, after one year can I sell it and bid on another hud home? How is it that people are buying more than 5 hud homes a year?

    1. Hi Steve, As an owner occupant you can only buy one HUD home every two years. You have to live in the home for a year and you can sell it after that year, but you can’t buy another as an owner occ for two years. If you buy hud homes as an investor you can buy as many as you like, there are no restrictions.

  10. I have heard that there is no limit to the amount of times you may bid on a HUD home as long as none of the offers have been excepted. Have you ever heard of anyone being told by a HUD officials to stop bidding on the houses because you are clogging up there system?

    I am trying to find a HUD regulation that restricts the amount of bids and or a document that says I may bid as often as I wish. Can you help?

    1. Hi Jeremy, there is no limit and I have never heard of there being an issue submitting too many bids. I would not submit more than one a day since HUD will only look at the highest one you submit.

      1. Thank you Mark, that is what I have heard as well. I have been submitting one per property of interest per day. The HUD employee told my agent to stop submitting everyday because we have locked up 8 properties in there system and then threaten to kick my agent out of the program. Suffice it to say I am very surprised and shocked as none of our offers were excepted. How could we lock up there system if they have not accepted the offer? I was hoping to find something in there terms of use that I could reference that says there is no limit to the amount of bids. I did a few searches on the HUD website and was feeling a bit daunted. I was wondering if you would know where I could find a reference to the bidding process that I might be able to then share with my agent in response to the HUD message.

        Thank you for your help in pointing me in the right direction.

          1. Thank you Mark I appreciate your incites. I have a feeling that this particular government employee is not fond of the work I am making him / her do with all the bidding. Once I reach a resolution I will post and update to help others in the future.

          2. I have an update about HUD and there bidding allowances. They will not allow you to keep bidding on a property on a daily basis. My agents received phone calls from HUD representatives from Both Oregon and California programs I was running, telling them if they continue to place bids every day they will be banned from HUD. I have separate agents, one for California and one for Oregon. Both my agents received calls to stop bidding every day despite only placing one bid per property per day on the properties I was interested in purchasing. The Call from the California office happened after only four days of bidding.

            I hope this helps other investors who wish to bid on HUD homes plan there strategy.

          3. Hi Jeremy,
            I think this may be a regional thing with certain asset management companies. Thank you for the information thought as I can pass it on to others. I know other investors who don’t have issues submitting bids all the time.
            I am not sure it does any good to submit the same bid every day.

  11. Hi Mark, amazing article I really appreciate you taking the time to write it. If you don’t mind I have a couple of questions I’d love to ask. To make them relevant I’d like to give you a quick background of where I’m coming from. I’m a new real estate investor obviously looking to get into the business. The problem is that I don’t have a ton of capital laying around. I do however have a full time job ( to help me with marketing costs ), great credit, and plenty of dedication. I recently came across a HUD property in Florida selling for 57k. The zestimate on the home is 74k ( I am fully aware the zestimate is only an estimate ). I put in an offer at 40k that was rejected. The home was listed on 4/08/2014. My offer was put in 6/05/14. To put in the offer I called the number on the sign in the lawn to get connected to a realtor. Since I don’t have capital laying around I had to be pre approved for financing before I could bid. I initially wanted to bid 35k but the lender said they don’t do mortgages under 40k. Since this scenario I have found 11 homes in my area I’d like to place bids on to see if I get lucky with one. Here are the questions:

    1. Can I use any HUD registered realtor to make an offer on any home? The reltor I used didn’t seem like the brightest nor most motivated person.

    2. I’m sure I’ll be making bids under 40k so can I use any other lenders?

    3. Why would the realtor refer me to that particular lender?

    4. Are HUD homes a good place to start investing?

    5. I am a first time home buyer as well, is there anything I can use to my advantage in light of this?

    Sincerely thank you,

    Sean W.

    1. Hi Sean,
      1. yes
      2. you can use any lender you want
      3. they may have used the lender in the past or know them well. HUD has no preference for lenders.
      4. I think so if you can get a good deal
      5. HUD does not give any preference to first time home buyers. They only consider the price.

      1. Great thank you so much for that. If the home has gone past the “Owner Occupant” stage and no says “All Bidders” do I have to clarify with my Realtor that I am an investor before I make a bid?

  12. Hi Mark,
    Have a question about the HUD exclusive listing period on an uninsured. A property I am interested in on the hudhomestore site has a list date of the 11th and a period deadline of the 22nd. I thought the exclusive listing period was 5 days on the uninsured properties. Not sure if it’s a typo on their site. Is it possible to submit a investor bid prior to the published period deadline?

    1. Hi Greg,
      Is it in the lottery period? The lottery period comes before the exclusive period and is 7 days. That still doesnt add up. It may a typo, but when your agent submits the bid it will not let them submit it if it is not in the investor period.

  13. Hey Mark,

    Thank you for being such a generous teacher!

    I can’t find specific, documented details on the legality and process of converting an owner-occupied home and mortgage into an investment/rental property after one year. Can you help? (If not, who could?)

    First, owner occupied purchases need both the property seller’s (HUD, Fannie Mae, Freddie Mac, but not a bank) and the money lender’s (FHA, bank) approval, right? If so …

    Property seller – You mentioned HUD allows it, but I searched the site and couldn’t confirm this. ‘You must occupy for at least one year’ is clear on occupancy for that year but totally silent about the rights of use after that year (like renting). Can you provide a link where the right and process to convert is spelled out, explaining any relevant passages? (Is it in HUD’s certificate of occupancy, is it a federal law, etc?) Does this apply to Fannie Mae/Freddie Mac homes as well?

    Money lender/Mortgage –
    You mentioned FHA loans allow conversion, but again could you provide a link where that right and process is spelled out, explaining any relevant passages? Also, since the FHA doesn’t loan money directly, couldn’t specific lenders forbid conversion?

    Additionally –
    If yes to above (or with a non-FHA mortgage) how do I find such minutia while mortgage shopping to quickly rule in, or out, specific banks? What is the common phraseology to look for? Are specific banks known to allow the conversion without penalty?

    There’s a lot of general information out there but so few details. I’ve read, ‘just ask, the bank will convert it for a rate bump and fee’ but that seems glib. Are all banks legally obligated to convert an owner-occupied mortgage to a rental one, or can the mortgage terms forbid it outright and you’re screwed? Even if allowed in your contract, is it contingent ‘upon approval’ or ‘qualification’. Are those terms spelled out? Is the bump and fee pre-determined in the contract, an industry standard increase of your mortgage rate, or is it based on current market conditions at time of conversion?

    Thank you in advance for the detailed reading of such a long (but seems to me very crucial) question!!

    1. Hi Jordan, There is a simple answer to most of your questions. The loan documents you sign and the HUD documents say you have to live in a home for one year as an owner occupant. HUD doesn’t care what type of loan you have or even if you have a loan. They just want you there on year.
      The bank loan will require an occupancy term for one year on the loan. After the one year is up, you can rent without doing anything to the loan. It will stay in place with the same terms, interest rate and length. Their is no conversion necessary.

      1. I’m happy for it to be true and want to believe it’s that easy, but can you substantiate your answer with specifics from a primary source? For instance, a link to a mortgage agreement (from any lender) highlighting the verbiage that clearly specifies, “you can rent without doing anything to the loan after a year”?

        Several articles/personal stories contradict you’re scot free after a year – saying instead you must notify your mortgage company if you change the terms of your agreement (i.e. renting vs. owner occupied) even after a year; or at the very least it’s essential to change your insurance coverage from personal to landlord/rental and your insurance company is required to notify your lender. Depending on your mortgage terms, this could trigger a change in rate, the right to call the loan, be outright forbidden in the terms, constitute mortgage fraud, etc. (Which makes sense since owner-occupied loans have more favorable terms).

        I’m not trying to be difficult – it just seems common sense, with so much at stake and so much contradictory info out there, to ask for a primary-source example instead of taking your (respected and experienced) word for it. That would be very rare and very empowering, thank you!

        1. I don’t think what your asking for exists. A lender is not going to word the contract “borrower can rent the home after occupying it for one year with no penalty, etc”. If they added everything you could do after the year it would add ten pages to the contract. Instead they simply say you must occupy for at least one year. After the year you have fulfilled your contractual obligation and you can sell, rent, or continue to live there.

          Some lenders may have different terms of occupancy but that will be clearly stated in your mortgage docs. If the term is two years then you would have to notify the lender if you want to rent after one.

          I have meet seen a loan that could change the rate based on a house changing to a rental. The lender has the right to call the loan due and it could be considered loan fraud of owners intentially took out an owner occupantoan and rented the home prior to the occupancy term being up.

          If you sell the house to an llc the loan am be called due. Yes it is a good idea to change insurance once it is a rental, but the lender won’t care after that year.

          The best way to confirm this is to ask your lender when you are getting your loan. If you are going to buy a house talking to a lender should be one of the first things you do.

          1. Ok, cool. Sounds like some people have had issues whether it’s from un-informed customer service bank reps or restrictive language in the mortgage terms but it sounds like it’s unusual (so I don’t have to worry about it while mortgage shopping) and can double-check before signing, since any particularly restrictive terms after the year is up would have to be clearly stated. That’s workable knowledge, thanks!

  14. Great article! I would be purchasing a home as a first time investor, will be choosing a real estate agent to help with the process. I have found a home that is priced at an unbelievably low price for the neighborhood – about 15% of what it could potentially sell for. My first thought is that the house probably needs a lot of expensive repairs that are not easily visible on the surface (ie structural or foundation issues), however on the property conditions summary and report, they note no major problems. The escrow to get it to FHA approval status is around $4000, so if I’m understanding this correctly, that means that HUD believes it will take about $4000 to get the house in “live-able” condition in order to get an FHA mortgage (however, one thing listed in the escrow account is paint!). So if the major repairs to get the house functioning are thought to be so little, why would the list price be so low?

    Does HUD have one price for owner-occupants, and then if they get no bids they raise the price once opened to investors? Is it possible they found major problems with the home that are not listed on the conditions report, and that’s why they priced the house so low? Possibly they found structural problems, but they aren’t required to list those publicly on the report? Just curious if these things ever happen.

    1. Hi Eliza,
      The list prices on HUDs are usually based off an appraisal for what the home is worth now. Has the home been on the market a while? The prices are the same for investors or owner occupants, just owner occupants have a chance to buy homes before investors do. HUD lists everything they know about the home in their reports. If they found a structural problem they would list it.

  15. Hi, Mark.
    Thank you for good article.
    Question for you: Can real estate agent buy an HUD house as an owner-occupat? if yes, under what condition? What is the rules?
    Thank you

      1. Hi Mark. I want to bid on a home as an owner occupant with GNND. I don’t have the financing yet but the home had been on the market since October. Is there any way I can bid on the home to keep it off the market? How long will the bank wait for financing before they put it back on the market?

        1. Hi Nakia, If it has been on the market for that long it is probably not eligible for GNND. Only certain houses are in that program and it ends up being a bout 1% of HUDs. HUD will not accept a bid without a prequal so you could lock it up for a bout two days before they cancelled your bid.

  16. Have you ever heard of HUD not accepting any bids under asking price? I was told by my realtor that HUD will lower the price every month until they get a bid at asking price.

  17. If multiple bids are received on the same day does hud take the 1st bid submitted or highest bid over list price? How does hud decide if they receive multiple offers at the same price?

  18. Did HUD extend the 90 day seasoning waiver that allows investors to flip properties at the same time, or do we now have to hold the property for 90 days.

    1. Hi M.G. HUD has never had a 90 day seasoning rule. Fannie Mae does, but they are different than HUD. You can sell a HUD home as soon as you buy it if you buy as an investor.

  19. Mark,
    If HUD is selling a home in NYC with violations on it (HPD, OMO etc.), who is responsible for paying to satisfy them?

  20. Great information, we have been doing this for years. Now the prices have gone down so much. ANY SUGGESTIONS
    BUBBLE BACK THAN. Great information.

  21. The principle on the mortgages have gone down, but the rents that the area allows for, just does not make any
    cash flow The loss is
    being compensated by rental homes paid off many years ago, as I have said we have been doing this for years. I am looking at an investor property on Hud Homes. Can you tell me how long I have to wait before Hud lowers the price. If they do not get a bid do they lower the price. I think I read it was every 35 days. Do they have to receive a bid to lower the
    price, should I just put in a low bid, and see what happens. This house has just become an investor property
    just maybe a week ago. We did purchase one home very low as a bank owned sale. My accountant says, that they
    are paying for themselves, but not making money. It is all in the timing, and terms and rates and prices have changed
    so much over the years. For anyone out there looking, this seems to be one of the greatest times to purchase a home,
    in all my 30 years of doing this, and all the changes I have seen.

  22. Mark,
    Could explain to me why the ‘Bid open date on a Hud Home I am very interested in keeps changing. I am of course waiting for the price to go down, but the last time the bid open date was 3-9-2015, today I look at
    it and the bid open date is changed to 3-10-2015. What do you think this is all about. It is an investor
    property at this point. Thanks again.

    1. They open bids every day. If they don’t accept a bid that day, the bid open date extends another day.

  23. Very interesting blog, Mark.
    Can you recommend HUD knowledgeable Realtor(s) in Buffalo/Niagara area of New York state?

  24. Hello Mark,
    I had a few general question about the steps that are required for an investor in order to buy property in the GTA. I figured it would be a good idea to ask you since you are answering others’ questions.

    If someone wanted to buy a condo from China,
    1) How would they put an offer in?
    2) How would they provide a deposit once accepted?
    3) How do we confirm who they are?
    4) How do they pay cash on closing?
    5) What clause should a realtor put into an offer if any?

    Please advice me on what the answers to these questions would be. It is highly appreciated.

    Thank you!

    1. 1. online with an agent in the state you want to buy in
      2. It would have to be certified funds. either over nighted as soon as bid accepted or made out to HUD before your bid is accepted ot get there in time
      3. The investor will have to provide either a tax id number or social security number to purchase
      4. Wire from their bank
      5. You can’t put any clause in a HUD offer.

  25. Does HUD purchase homes? If they do, how do you contact them to sell your home.
    If someone is interested in purchasing a home and turn it into a HUD home how can a seller get into contact with buyers?

  26. Mark,
    Just something for you to think about when buying turn key rentals, NOT A GOOD IDEA.
    I can tell you that living in New England and having high incomes meant we could buy
    and did, turn key rentals in other states. It is not easy to evict bad tenants and property taxes are
    very high.= in New England. Makes turn key in other states seem great. After owning the turn keys for
    25 years or so, depending on managers to take care of our property, we found our
    rentals being destroyed by managers who, had friends living in our homes not paying rent, and even repairs that were done
    by people who did not know what they were doing, I would tell you, if you do want to
    try a turn key, watch very carefully the persons involved with your far away property.
    You will find so many things that you will not believe can happen. We are now at this
    time trying to repair what was done to lovely properties that we bought in good neighborhoods.
    Best of Luck, Deborah Jean

    1. Deborah, I think any rental can turn into a nightmare with bad management. Wouldn’t you see that rent was not being paid ?

      1. Mark,
        The problems were so many. We had problems with every management person.
        Somehow, when you are not there to see what is happening the management person
        seems to think they can do whatever they want. How do you know what is going on.
        One home had four families living in it. The lease was what my husband and I would
        see and it was signed by one family. Neighbors complain to the management person, not to the
        owner of the property. If, this had not happened to us over and over again, with different
        property managers, I would figure it was just bad luck. Things we demanded be
        repaired were not and you are not there to see who is working on the repair. You can plan a visit and the management
        people will have some reason for you not to be able to see the inside of the home.
        If your time is limited, you will not see the inside. You can demand and know how YOU
        would do the management, but you are not the one in control. As far as rents not
        being collected, you really are not in control there either, as 3 day notices and such
        have to be posted. Receipts may not be sent to you, either. I spoke with one manager
        and he told me, he got his job because the people before him were doing nothing.
        I am sure there are some good property managers, but give and inch and they take
        a mile. Best of luck, Deborah Jean

  27. Mark,
    Wanted to add that we had property managers in different states and different property
    managers, taking care of the properties. The best thing to do, if this is something you
    want to do, buy a turn key rental – is visit OFTEN. Best of Luck, Deborah Jean

  28. Mark,
    Here I am again, just something for everyone out there thinking of investing. Sometimes
    it gets very difficult to see friends having a great time with all their stock dividends,, fun and
    easy. But no matter how you feel about Donald Trump the real estate guy, he said he never
    concentrated much of his wealth on stock, a fact confirmed by the personal financial
    disclosures he filed as a presidential candidate, Now that should show there is MONEY
    IN the buying of homes to rent and to sell. There are many ways to invest and build equity.
    I really enjoy collecting my rent payments. Good Luck Everyone, Deborah Jean
    Listen to Mark he is a great help and has great information.

  29. This is a great Article, Thanks for sharing. I have one questions, I didn’t see it in the contracts or over looked it. In FL it’s the sellers responsibility to pay title insurance and deed stamps, the last time I sold a HUD home the buyer had to pay these fees, is that still correct?

  30. Mark,
    I am looking at a Hud home listing. It has bid submission time remaining as 15 hours, but
    I am confused by the Period Deadline which is 2-20-2016. What does that mean. Thanks,
    Deborah Jean

    1. The period deadline is the deadline is for owner occupant period when it is in effect. In this case the owner occupied period is over and the period deadline is not applicable.

  31. Mark,
    My husband and I just looked at a nice property Fannie Mae property, needs work, but nice location, can I offer
    less than what they are asking for. You may not know the answer, but if you do could you
    let me know. Should make a great rental. Thanks, Deborah Jean

  32. Mark,
    Excellent article and website! Just curious, if HUD wont return EMD to investors for inspection issues found during due diligence then why even bother giving them a 15 day time frame to do inspections?
    Thanks, Kenneth

    1. The buyer has a chance to inspect, but you are right. It doesn’t really mean anything to have that 15 day period.

  33. If the winning bidder finds out they can’t get a loan to pay for the house and decides they can’t afford it when will HUD contact the back up bidder? Does the backup bidder have to wait the full 45 days?

  34. How long does it take for HUD to contact backup bidder?
    We bid on a home and we were told they accepted another bid. Bids were opened on August 31st, my agent called me on Sept 22nd and said the winning bidder is no longer able to purchase the home. Will we be notified as the winning bid now? How long will it take HUD to contact us? When I called the asset manager they said it was still showing in contract with first bidder. We actually know the winning bidder and know for a fact they are not buying it. What’s next?

  35. Mark,
    Can an investor pay with cash, fix any issues that might prevent a home from being able to be financed, and then borrow against the home right away? Are there rules on how long an investor has to wait before he can borrow against the home?

    1. It depends on the lender you use. Some will make you wait six months or a year to refinance for a loan based off more than the purchase price.

  36. Mark,
    We saw a really cute house that we would like to bid on as investors. The house has only been
    on the market two days, it says 3 days more to bid on it. It says only non-profit and government
    agencies can bid. Bidding is a lottery…… Is there any way this is a house we could put a bid on.
    How long would we need to wait. I think it does say uninsured if that helps. Thanks again,
    Deborah Jean

    1. lottery is only for gov agencies and non profits like it says. After lottery there will be 5 day owner occupant period. Then investors can bid.

    1. Those are homes that have been for sale for 6 months. They offer them to government agencies for $1. Regular buyers cannot buy them for that.

  37. Mark,
    Here is another question that I need answered. I was looking at the listings for Hud Homes,
    one of the single family homes was listed as a lottery and for non-profits and government agencies.
    I live in a nice subdivision and it is very nice. Why would this house be on lottery for non=profits
    and government agencies. What would a nonprofit do with a home like this or the government.
    What does this all mean for the neighborhood. Everyone keeps their homes beautifully cared
    for and it just has homes in this subdivision. Thank you, I am wondering Please answer.
    Thank You.

    1. All HUD homes that will not go FHA because they need more than $5,000 in repairs per an FHA appraisal are listed in the lottery period.

  38. Mark,
    I read my posting and I don’t think that I said that that lottery home, for non-profits and
    government, is on my street.

  39. I saw a house that was foreclosed on for $125,000. The listing is asking $195,000. Why can’t I buy it for $125,000?

    1. Because hud and the bank want to get as much money back from the sale as possible just like any seller would. Hud lost a lot of money on many properties and was close to shutting down because of it. Making a little money on a couple houses will not make up for that.

  40. If I am buyig from hud homestore for a second home and my parents will live the property while I work in other state, am I considered an owner occupant?
    How should the contract must be driven?
    They are elderly people

  41. Will HUD still give preference to the occupant owner bid even during the “All Bidders” period?

  42. Hi Mark

    I have just purchased (as an investor) a HUD home which I intend to renovate and sell.

    Is there any rule that I have to wait 90 days to sell it?

    If I do have to wait, is it 90 days from closing or contract acceptance?


  43. I just got an executed contract from HUD for I home I’m purchasing with cash. Do I still have the 15 day inspection period?

  44. Is there a regulation by HUD, that an investor or any type buyer cannot do any type of inspection prior to winning a bid and signing a contract? From time to time investors or any buyer may want to go into a property with a contractor to determine a rough estimate on costs of repair.

    1. No, HUD encourages inspections prior to bidding. However, you cannot turn the utilities on at that point.

  45. Mask,
    I am looking at submitting a bid on a property, I am also a license broker with my own company & Naidu number, I don’t list HUD properties as a REO BROKER, But I want to submit as a principle for my offer, is that ok, will they pay any closing cost for an investor

    1. AS long as your office does not list hud homes you are fine. Yes, they pay closing costs for investors.

  46. Hi. Your video was a great source of information for me. Thank you. I have a question about the “period deadline”. If a property is in the investor period what does the period deadline mean? Is it the next time they will consider a price reduction? Or, is it the end of the investor period and it becomes something else?

    1. It really does not matter in the investor period. It is like 6 months out. they will have multiple price changes in that time.

  47. Can you purchase HUD properties and resell them to FHA buyers within 90 days? I believe there is a policy on this, or previous one. I think I have seen this before somewhere.

    1. The only restriction would be on the new buyers loan which would apply to any home, not just HUDs

  48. Mark,

    Can an investor place signs in front of an HUD property asking for a price less than what the home lists for online if they have yet to close on the deal? There is a home I am very interested in, however, I have been told by my realtor that an offer has been made and therefore the sale is final. Shortly after speaking with my realtor, I notice that there are signs placed in front of the home suggesting that the property was still for sale. So I then tried to call the number on the sign and get in touch with the investor whom is selling the home. After a little discourse, the “investor” then offers me a chance to walk through the home by myself. After walking through the home, I immediately call the investor back and tell him I am interested. He then proceeds to tell me that he can only sell the home for cash, and could not utilize the property for collateral in a conventional loan. My question then becomes if he does not officially own the home yet, how can he let people walk through the home needless of supervision? I highly doubt that the bank who owns the property would approve of such a legal liability, let alone the FHA or HUD. I have tried to get into contact with the HUD but have made very little leeway. How do I know if this is a legitimate means for sale, or if this is just a potential scam? Who can I get in contact with to discuss the matter further for investigation? Any advice is greatly appreciated.


    1. No, the investors cannot put a sign up and the only time you can view a HUD home is with a real estate agent approved to see the home. It is actually felony trespassing to be there without an agent. I would try to contact the listing agent and if they are unresponsive go up the ladder to HUD. There should be a rider or other information on the agents for sale sign saying who the asset manager is for the house. You can also go to and tell HUD what is going on.

  49. Can a cash buyer purchase a HUD home without giving their SS#? I have a cash buyer interested in a HUD home here in Texas but they do not want to give up their SS#.

  50. A month after my investor offer to HUD was accepted and inspections were done, I found out that the title of the property wasn’t clear. Apparently the previous owner (now deceased) had heirs and the title never went through probate. My title company reached out to the family but they wouldn’t sign the deed to transfer it over. The title company has been in contact with Sage Acquisitions for a couple weeks, but my real estate agent tells me she feels they have hit a dead end. Do you have any advice on how to handle this situation? Should I cut my losses and move on or is there something else I can do? How can HUD, a federal agency even list this property for sale when the title is unsellable? Not only will I be out money, if I pull out of the deal, but what about all the buyers after me? Will they be protected? Will they be aware that the house can not be sold because of the title or will HUD steal their money too? Thanks Mark.

    1. Sorry I missed this. HUD gets their properties from banks after they go through foreclosure. The banks handle that entire process and if it is not done correctly HUD might miss some things like this. HUD most likely will give you back your earnest money since they can’t close. They will pull it off the market until they figure out the title issue.

  51. Our realtor submitted an offer for us and this past Sunday was the bid submission deadline. When I checked the Hud website to see if it was taken off the site and if our offer got possibly accepted the bid submission deadline restarted and now says daily at midnight CT. Our realtor is waiting for an email, but hasn’t gotten anything yet. We’ve been waiting over a week for these results. What does it mean when they do that and do we have to resubmit an offer?

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