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How To Review Bids In The HUD Homestore

 Reviewing & Changing Bids

When an Asset Manager issues a counteroffer, that counteroffer is sent out to all previous bidders on the home. In addition, during the counteroffer period, the Asset Manager will consider any new bids made on the property, not just the counteroffers.
If your offer is counter-offered, you will be sent an automatic email from HUD Homestore. However, these emails are sent as a courtesy and should not be relied on for notification of a counteroffer, since email systems may block an email or send it to the Spam or Junk folder. The most reliable way to check for a counteroffer is to log in and manually check.

Checking for counteroffers after you log in: As a bidder, you can review all counteroffers by logging in, and, in the Review Your Bids screen, setting the Counter Offer drop-down (on the far right) to ‘Yes’ and clicking Search. This displays all bids that are counter-offered. When a bid is counter-offered, the original bid is canceled.
To place a counteroffer: Click the Confirmation Number for the bid. This displays the Bid Details screen. You will then see a Counter Offer Bid button that you can click to respond to the counteroffer. Much of the information cannot be changed on the counter offer form; so, if you need to change some of the buyer information, you can always submit a new bid rather than use the counteroffer to place your bid.

If you encounter an issue placing the counteroffer: Check to see if the home is listed on HUD Homestore. If you can’t find the home, contact the Asset Manager to see when the home will be on the site so that you can then place the counteroffer.

How can I see the status of bids for the property I made an offer on?

You can check the status of your offers by logging in to HUDHomestore.com. On the Review Your Bids page, click the Search button to view a list of your most recent offers and see their bid status.

What are the different bid statuses?

AC: Accepted – The Asset Manager has ACCEPTED your bid. Please ensure that all documentation is in order and has been sent to the Asset Manager for review. Failure to do so in a timely manner may result in your bid being canceled.
See What do I do if an offer has been accepted?
CA: Canceled – Your bid was canceled by the Asset Manager.
OBC: Other Bid under Contract – Your bid was NOT selected. The Asset Manager entered into a Sales Contract on another bid. If you elected your bid to be a backup, your bid will be saved for future consideration in case the contract gets canceled.
OBS: Other Bid Selected – This bid has NOT been selected. The Asset Manager has a preliminary contract acceptance from a different bidder for this property. If you elected your bid to be a backup, your bid will be saved for future consideration.
PR: Pending Review – Your sealed bid is Pending Review and is not currently available to the Asset Manager. You cannot modify or withdraw this bid. Bids from a previous bid-open date are still under review. The Asset Manager does not have any additional information at this time.
SB: Sealed Bid – Your bid is sealed and is not available to the Asset Manager. You can modify or withdraw the bid unless the Asset Manager has accepted a bid from an earlier bid period.
UR: Under Review – The Asset Manager is currently reviewing your bid and others from this bid-open date.
WI: Withdrawn – You withdrew your bid from consideration before the Asset Manager reviewed the bid.

 

 

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About the author

Sherry Fields Written by Sherry Fields: Working in real estate for over 12 years, Sherry Fields is certified in Foreclosures, Short Sales and Negotiations along with many support computer platforms on the web. She has been helping her clients buy & sell homes by building relationships so that they can buy and sell with confidence. You can find her at Twitter, LinkedIn, ActiveRain Facebook and

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