how many days does it take for HUD to except an offer on a foreclosed home that already went through auction?

Asked by Teresa, Thu Mar 27, 2008

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smith3gary, Agent, White Lake, MI
Thu Mar 27, 2008
Teresa, The following is straight from the website:

"Answer: Start by finding a participating real estate agent. Your real estate agent must submit your bid for you. Normally, HUD Homes are sold in an "Offer Period." At the end of the Offer Period, all offers are opened and, basically, the highest reasonable bid is accepted. If the home isn't sold in the initial Offer Period, you can submit a bid daily until the home is sold. Bids can be submitted any day of the week, including weekends and holidays. They will be opened the next business day. If your bid is acceptable to HUD, your real estate agent will be notified, usually within 48 hours. "

If you are referring to the redemption period following a sheriff auction. Homeowners generally have 180 days. There are exceptions to this time period
Web Reference:  http://www.mi-living.com
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