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I submitted a bid for the listed price on an HUD prop. Can't get any info over a week, they depoI

We also feel like, been had. Can't find out any thing . My bid was for cash at the listed price ?????? Sounds like this happens ?
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May 11 2012 - Broussard
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On, HUD Homes, they on occasion have a bidding period.  They will not respond to any offer until the bidding period has passed.  Also, there may be a period where they are only accepting Owner Occupied offers.

Normally, Days 0-7 are for govenment entities and non-profit organizations.
Days 7-21, are Owner Occupied Offers
Day 22+, all offers are considered.

These are the nomal time frames, HUD at it's discretion, may modify these standards on a property by property basis.

Hope this is helpful to you.  Work with a HUD trained buyers agent, they can fill you in with the details of the entire process.

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May 11 2012
The bid process is an on-line process.  No paperwork is done or any money sent anywhere until an offer is accepted.  My question is also, are you working with a licensed buyer's agent?  Is that agent holding your deposit until such time as you get an acceptance?  Please understand that timelines mean nothing in a foreclosure acquisition.  A week's time does not mean that you won't be getting an answer. 
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May 12 2012
Did you give someone cash? If so, did your Agent get a receipt or did you get a receipt? O doubt whether a HUD home would take cash. If it is a HUD transaction it will take a while....and if its an auction many times it comes in so much lower than what it eventually sells for,if your bid is at the list price, chances are you did not get the property.If that is the case, your money will be returned to you. Are you not represented by an agent?
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May 12 2012
 
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