Owner
Occupant Priority Bid Period
New
homes are listed every Friday. During the initial 10
day bid period, priority will be given to purchasers who
plan on being an owner-occupant. An owner-occupant is a
purchaser who will live in the house as their primary
residence for at least one (1) year and may not purchase
another HUD home for two (2) years thereafter.
Investor
Bidding
An
investor may not bid during the ten (10) day
owner/occupant priority period. Once the owner/occupant
period is over all bidders, including investors will be
able to place bids.
Open
Bidding
Any
properties not sold during the initial ten (10) day
owner/occupant priority period will be placed in the open
category and will remain for all bidders until the
property is sold. Bids submitted before midnight
will be opened by HUD representatives the following day.
The bid that "nets" HUD the most money, if
acceptable, will be the winning bid, and posted by 1:00
following the day of submission, except on weekends.
Electronic
Bidding - How To Place a Bid
All
bids must be placed electronically through a HUD approved
Real Estate Broker. Great Results Realty is HUD
approved Realtor for The State of Ohio. Use the
"Contact Us" button to initiate your contact
with Great Results Realty for showings and bidding on HUD
Homes.
Bid
Awards, Notification, & Information
Winning
bids will be posted by 1:00 p.m. on the day following the
end of the bid period. An email notification of bid
acceptance or bid rejection will also be sent to the email
address provided at the time of bid submission. The posted
bid results should be considered a preliminary acceptance
subject to the review and approval of an accurate, timely,
and complete sales package.
Accuracy
of Bid Submission
Purchaser
information during bid submission must be accurate. The
information entered on your bid cannot be changed
after the preliminary acceptance. False information given
on submission will result in the cancellation of the
preliminary acceptance and we will re-list the property or
process a back-up offer.
Bid
Acceptance
If
your bid is accepted, it is our responsibility to make
sure that the HUD manager receives your original sales
contract package, including the purchaser's
pre-qualification letter or verification of cash, within
forty-eight (48) hours of bid acceptance.