HUD Articles

This note will clarify, HUD’s “counter offer” to a bid.  In this process, HUD informs you of the “net” required and give you a chance (but not an exclusive one) to make a new offer along with any other bidders.  This is not the same as traditional real estate, as HUD is accepting other bids during this bid period whether new bidders or other agents who have received the counter offer notice.   So, you may not have your bid accepted even though the buyer meets the reserve amount.  HUD will most likely take the highest net offer (purchase price less costs, less commissions) provided the net offer amount is above the “reserve”. 

This is HUDS explanation:

The Net to HUD is the property Purchase Price minus any requested closing costs, selling broker commission and listing broker commission.

Resubmission of the offer does not guarantee that it will be accepted and the property may be removed from HUDHomeStore.com for any reason.

This property is not reserved pending the response from the client. The subject property will remain available on www.HUDHomeStore.com to receive offers from all eligible bidders until an offer is accepted.

This notice is sent to all selling agents who submitted an offer on the property that were in range of the acceptable Net to HUD.

If your client chooses to resubmit the offer, it will be reviewed the business day following the "Bid Submission Deadline" posted with the property along with any other offers submitted during the same timeframe. The offer with highest Net to HUD over the minimum acceptable threshold will be awarded the property.