Under the timeline established for purchasing a HUD home.

Be prepared to follow a schedule.

New HUD home listings are posted weekly. During the initial listing period, owner occupants can submit their bids for the first 10 calendar days. The HUD home program is tailored to favor owner occupants, as the hope is that proud homeowners will take pride of ownership to the neighborhoods in which these properties are located.

Initial owner occupant priority period

The owner occupant offers received during listing period are considered as if they were all received at the same time. All owner occupied bids must be completed and confirmed on the Internet. These will be reviewed and awarded to the highest acceptable net bid. The bids are reviewed and posted at the conclusion of the 10 day owner occupant listing period.

Open bidding process

In the event that no acceptable bids were received at the end of the owner occupied listing priority period, investors and any members of the general public can bid on the property. These bids are then reviewed and the highest acceptable net bid will be accepted.


When no acceptable bid have been received on a HUD home, daily bids will be reviewed and results will be posted the next day business day. Bids that are received during the same day are considered to have been received simultaneously. Bids received on Friday, Saturday and Sunday bids will be reviewed on Mondays and the highest acceptable net bid to HUD will be selected.

The HUD home listing will remain on the market until an acceptable bid has been received or HUD may withdraw the home from the market to reassess the marketability of the home. Bids must be submitted via the internet before 11:59 p.m. in order to be valid for that day and will be opened the next day with the exception of Friday, Saturday and Sunday, in which case all bids received during that day will be opened on Monday.
 

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