I submitted an offer on a HUD property the other day (through HUDHomeStore.com). I've bid on HUD properties before, but have never had one accepted or countered.
I checked today, and it appears that my offer was countered at just a few hundred dollars above my offer price. I'd like to accept the counter-offer, but apparently it doesn't work that way with HUD (there is no "ACCEPT" button anywhere or any other obvious way to accept the counter-offer).
There *IS* a way for me to resubmitted a new bid right from the counter-offer page.
My guess is that it's not a true counter-offer whereby I have the option of accepting and locking up the property. Instead, it seems more like HUD is just informing me that the minimum they would consider is the counter-offer price and that by resubmitting after I got the counter-offer, my new offer is just going back into a pool of potential offers that HUD may be receiving today. In other words, even though my new bid is above the counter-offer price, the property could still go to someone else.
Does anyone here have any insight to how this actually works? Just curious so I know what to expect from here (and in the future)...