Will HUD accept multiple offers on a HUD Home?

Selling brokers may submit unlimited numbers of bids on a HUD Real Estate Owned (REO) Property, provided that each bid is from a different prospective buyer.  If a buyer submits multiple bids on the same property, HUD will only consider the bid producing the highest net return to HUD. 
 
If a prospective Owner-Occupant Buyer submits a bid on more than one property, the bid that produces the greatest net return to HUD will be accepted and all other bids from that buyer will be eliminated from consideration.  However, if the prospective Owner-Occupant Buyer has submitted the only acceptable bid on another Property, then that bid must be accepted and all other bids from that buyer on any other properties will be eliminated from consideration.
 
For additional information please contact the Asset Manager with jurisdiction over the property.  To locate contact information for the Asset Manager please visit the HUD HomeStore website at https://www.hudhomestore.com/ and click “Help” in the gray tool bar.
 
For policy information see Handbook 4000.1 Section IV.B.2.h.i.(A) at https://www.hud.gov/program_offices/administration/hudclips/handbooks/hsgh
 

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-03179