HUD Home Information - UNDERSTANDING THE BID REVIEW PROCESS - WWW.CJHARRINGTON.COM

Bids are reviewed for acceptability on the following business day after the deadline of bid submission. New listings have a 10-Day Owner Occupant Priority Period. Properties with a price reduction, and relisted properties have a 5 day Owner Occupant Priority Period. When the Owner Occupant Periods end, bidding is opened to ALL BIDDERS (DAILY). Under the daily bidding process, a bid is good only until the bid deadline time shown. Daily bids are looked at on a daily basis and prior bids are not re-reviewed. If necessary you may have to rebid. Final bid posting will be completed by 3:00 pm. The properties will appear available prior to completion of our bid review but a property will disappear from the website after we post a winning bid from the previous day’s bid deadline. If you submit a bid within the timeframe of the bid submission deadline and our bid posting deadline (3:00 PM), your bid will not be acknowledged if we post an acceptable winning bid from the previous day. It is the agent’s responsibility to check Bid Results the day following the bid submission deadline for the acknowledged winning bid information .