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Updated almost 12 years ago on . Most recent reply

User Stats

93
Posts
28
Votes
Randy King
  • Investor
  • Madison, AL
28
Votes |
93
Posts

HUD backup offer?

Randy King
  • Investor
  • Madison, AL
Posted

How does it work when you submit a HUD offer and click that it is OK to hold as a backup. I have situation where HUD is about to drop the price on the property and my backup offer would probably be acceptable. Do they automatically accept your backup bid? I do not want it now at that price. When the price drops, I will be able to get it at a better price than my backup. Is there a way to cancel the backup?

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