We list HUD homes in Virginia, Maryland and DC and we get a lot of questions on how to place an offer…read this for more info:

Next to the “submit offer” button in www.Bidselect.com, it shows you who is able to write on the property at that time.

Some listings say “Broker/non profit/gov agency”…that means this listing is considered an owner occupant priority listing with an “exclusive listing period”.

For insurable properties (eligible for FHA financing) bids will be reviewed 15 days after being listed. If no bid is accepted by day 15, bids will be opened and revised on each day after the 15th day up to the 30th day.  If no bid is accepted by day 30, the listing will be open to all buyers.

For uninsured properties (certain repairs and or improvements are required to be eligible for an FHA) bids will be reviewed 6 days after being listed. If no bid is accepted by 6th day, the listing will be open to all buyers.

These rules apply to all HUD properties regardless of asset company.  They have a great page explaining the entire process when dealing with HUD’s: http://oforireo.com/procedures.php#listingcodes