HUDHomes in the 'Exclusive' Stage

[Ryan Johnston]

Hey BP,

Little new to the HUDHomes process but I've heard some success stories when dealing with them. I'm looking at a house that is listed on the MLS but the listing gave me information to go to the HUDHomestore. I went there and found that the house is in the "Exclusive" stage which basically means that it's only available to Owner Occupied, Government Agencies and Nonprofits. The bid expires in a few days and I was wondering what happens to the house if nobody bids on the house at this stage. I'm looking to flip this house and my market is kind of tight in terms of inventory. I need to put an offer in as soon as possible and I was looking to learn more about the HUDHome process.

Thank you in advance!!