Owner Occupant bidders who make offers on multiple properties should be aware that HUD will only award one bid to an Owner Occupant at a time. An Owner Occupant’s bid may have the highest net to HUD but if the Owner Occupant bidder currently has an awarded bid or an accepted contract on another property, HUD will reject all subsequent acceptable bids when opened because the buyer cannot be an Owner Occupant of two different properties. It should also be noted that Owner Occupant bidders will not be considered as a backup offer if they have an awarded bid or accepted contract on another property.
In the event the bid period ends on the same day and the Owner Occupant has 2 or more acceptable bids on different properties the buyer will not be able to choose which one they want. This is determined by HUD. Owner Occupants can only have one HUD home at a time.
HUD will also reject a bid from an Owner Occupant if the Owner Occupant has purchased a HUD home within the last 2 years.
For further information please complete the CONTACT FORM or call me at 504-908-2268