HUD counter offer help!
I'm bidding on a HUD foreclosure I bid a net to them of 55,250 as an owner occupant during the owner occupant period. I then got this back from them:
However, HUD has initiated a counter offer process on this property, and you are welcome to submit a new bid. The period for submitting counter offers for this property will begin on April 20, 2015 and end on April 20,2015. HUD has set the minimum acceptable net to HUD offer amount for this property as 57,200.00. ----->During this period, HUD can and will receive counter offer bids from all unsuccessful bidders, as well as other bids from first-time bidders.<-----HUD will accept any bid that is at least equal to or greater than the minimum acceptable net offer and presents the highest net to HUD.
If the counter offer period ends before the date defined above due to the acceptance of a different bid, you will receive an email notification that the counter offer period has ended.
So now it shows investor period biding is going on online. I was intending to live in the house for a year to meet requirements but if I don't have to I would rather not so to me it means that if I raise my bid by $2000 I could win it. But from the email it kinda looks like I would be able to submit a new bid as an investor? Does anyone know what is the case here? I could really use the help ASAP bidding ends in 11hrs.