5:30 a.m
Question
who determines if our bid was accepted on our HUD house?
we put a bid in on a HUD house 2 days after it listed, bidding their list price minus 3 percent commission - our broker didn't take the 5 that she was entitled to. The owner occupant priority period ended last night at midnight, on the NHMS website. When I just checked, it says the bidding is open to all bidders on a daily basis. I know this is the next step after owner occupant priority. Does the computer automatically go to this at midnight, or does this mean our bid wasn't accepted? Is it a computer that determines if our bid is accepted, or is it an actual person? It's only 5:30 a.m., so if it is a person, we probably won't know anything for a bit. Thanks!
1 year ago - 2 answers
Best Answer
Chosen by Asker
Just wait until about noon the next morning and then check it. If the bidding deadline is up they will make a decision immediatly but if your bid was below market value they may not take it. Generally if the house has been on the market awhile they have some play in the price but if it just got listed they may still be waiting for a full price offer.
1 year ago
Asker's Rating: 
Other Answers
The decision is made by an actual person, and is not generally made on the basis of each individual offer tendered. HUD may wait a week or more to solicit as many offers for a property as possible, and then select the offer which is the highest, or even no offer at all, if it does not like the levels of the offers tendered.
by acermill- 1 year ago