Can listing agents see other bid amounts?

Question

I have heard that when HUD bids are placed that the buyer's agent can't see the other offers, but the listing agent can, and can see the exact amount that was bid.  I had thought HUD bids were anonymous, and only the bank was able to see those offers. Obviously if the listing agent was able to see the bids, this would put them at a great advantage. Please let me know what your thoughts are on this. Thank you.

Greg H. · Answer

No they cannot see the bids. The only advantage they do have is they are aware of the accepted bid amount. So, if a bid is accepted but the purchaser does not follow through with turning in the contract, they have a better idea of what might be accepted

Greg H. · Answer

@Salley  Smith

No you do not have to cancel the bid.  You can rebid at anytime with any agent.  Just be sure that you have not signed any type of exclusive agreement with the original agent that would obligate you to compensate them.  Either way it is of no concern to HUD

Salley Smith · Answer

Thank you so much for your help. I was also wondering if I had placed a bid through a buyer's agent with the listing agent company (with the backup box checked) and after that, HUD had reduced the listing price of the property, and I wanted to place another bid with another buyer's agent from a different company, if I would need to cancel that original bid. I would prefer not to have to cancel that bid, if it is automatically deleted when the price drops.