I submitted another HUD offer this past Tuesday. Yesterday (Wed), I kept checking the HUD processor's web site to see if my offer was accepted or rejected. All day long the site kept showing "No Offers have been reviewed for this property" and even the outstanding property count for the entire state of Texas stayed the same. Even when I got home, I checked and the same thing. Wierd.
Later last night, I checked my email and noticed two messages: one from my agent and one from her assistant. It turns out my agent had to go to the emergency room Tuesday night and was unable to submit my offer on time. She said she had her assistant check to see if the property as still available on Wed, and, if so, to submit the offer for her. I guess that's one reason I didn't see any update on the property's status, but I still can't believe NO offers were reviewed at all by HUD in the ENTIRE state of Texas! Maybe yesterday was some federal holiday or something???
Anyway, I send my agent an email wishing her a speedy recovery. I told her I appreciated her persistence in getting my offer submitted in spite of her health issues, but to never feel she has to do it in the future. My offer SHOULD be reviewed today (I'm hopig, at least). I have a bad feeling it will be rejected as I've noticed a lot of HUD properties in my area have been bidded on, but HUD has rejected all the offers. For example, there was a property listed for $63k that needed extensive work (roof, foundation, etc), and had an ARV of only $80k. The highest offer was a Net-to-HUD for $53k, but HUD rejected the offer. Ouch! Even the property I bidded on twice two weeks ago is still available.
Update: I just learned my offer on the HUD foreclosure was rejected. A slightly higher offer would still be good, but it's a little out of my price range even at the offer I already submitted. Since mine was the only offer so far, I figure this property will sit like the other one I had two rejected offers on.
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