Buying and Selling HUD Homes ~ How Weekend Bids are Reviewed

In order to keep all buyers and brokers on a level playing field with HUD Properties, it is my intent to share any insights I might be lucky enough to pick up along the way.

The process and order in which bids placed on weekends are handled was recently clarified for me.

All bids placed on a Monday through a Thursday are opened together on the following day.

• For example: all bids placed at any time on a Wednesday are opened and processed at the same time on Thursday morning.

All bids placed Friday - Sunday are opened on Monday, however they are not all opened and processed at the same time.

• Bids placed on Friday are opened and processed first.
• If there is no winning bid based on the margins HUD has set, then bids from Saturday are opened and processed.
• If there are still no winning bids, then bids from Sunday are opened and processed.

Unlike the initial 10 day bid period where all bids are opened on the 11th day for review, once the property reaches the daily bid period (day 11), bids are truly considered daily. Friday bids are processed before Saturday, and Saturday before Sunday.

Showing a property on a Sunday and submitting a bid does not have the same advantage as showing on Friday or Saturday and submitting a bid that same day.

Hopefully this helps to clarify the bid process. If you have additional questions don't hesitate to contact me!

	Terri Visser Desert Sky Real Estate, LLC 636 NW Cedar Ave Redmond, OR 97756