Multiple Bids on HUD ListingWhat do you do if you want to bid on more than one HUD Listing? Well, HUD has a process to determine which one you would get if you bid on two or more HUD properties. You can make multiple bids on the same HUD listing, but it doesn't make sense. If you submit more than one bid on the same HUD repo home, only the bid producing the highest net return to HUD will be considered. In theory, you are supposed to fill out and sign a Sale Contract for each bid submitted. Also, you are suppose to deposit a earnest money check for each bid. Why would you want to do that? Why would you want to bid against your self? HUD is going to take what nets them the most, not the least price you will give. HUD allows an owner-occupant to purchase only one HUD repo home. If an owner-occupant bidder submits bids on more than one HUD listings, the bid will be considered this way: 1. If the owner-occupant bidder bid is the only acceptable bid on one of the HUD listings, then that bid will be the only one considered. 2. If not, the bid that produces the highest net return to HUD will be considered and all other bids submitted by that owner-occupant will be eliminated from consideration. Again, the bidder is supposed to fill out a Sale Contract and deposit earnest money for each HUD repo home he bids. Making multiple bids on different HUD listings would of course increase your chances of getting an accepted bid.
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