|For additional information on placing a bid on a HUD owned property, visit: www.mmrem.com
Insured and Insured with Escrow Properties - Bidding is restricted to Owner Occupants only for the initial 30 days that the property is listed. On the 11th day of being listed MMREM will open all bids received Days 1-10 as though they were received simultaneously and if there is a bid that meets MMREM's thresholds, it will be accepted. If no bid meets MMREM's thresholds, the property will remain on the market and bids will be opened everyday at the end of the day thereafter until an acceptable bid is received. 203k loans may be available for these properties.
Uninsured Properties- Bidding is restricted to Owner Occupants for the initial 5 days that the property is listed. On the 6th day MMREM will open all bids received Days 1-5 as though they were received simultaneously and if there is a bid that meets MMREM's thresholds, it will be accepted. If no bid meets MMREM's thresholds, bids will be opened everyday thereafter until an acceptable bid is received. 203k loans may be available for these properties.
DECEMBER 14, 2010
How to Place a Bid on HUDHomestore.com
HUD requires each selling broker/agent to register as a bidder so HUD can confirm that you are using a valid NAID and to authenticate your identity. Only valid bidders are permitted to make offers on HUDHomestore.com. It remains the responsibility of the bidder to review the status of all submitted bids on HUDHomestore.com. On the Review your Bids screen, you can filter to find all accepted bids. Automated emails are generated from the system as a courtesy but should not be relied upon for notification of accepted bids.
In order to review your bids, you can click on Bidder Functions on the top right of your screen and review your bids. You will not be able to view bids other than those you have entered yourself.
If you would like to cancel an offer after it has been submitted, you may do this until the bid opening date. Log in to HUDHomestore.com, click Bidder Functions, and go to Review your Bids. Click the bid you want to cancel. Click the Withdraw this Bid button. A summary screen will appear, and you will again have to click the Withdraw this Bid. The bid is then withdrawn from consideration by HUD. You will not be able to cancel an offer after the bid opening date has passed.