Bidding

Owner Occupant Priority Bid Period

During the initial 10 day bid period, priority will be given to purchasers who plan on being an owner-occupant. An owner-occupant is a purchaser who will live in the house as their primary residence for at least one (1) year and may not purchase another HUD home for two (2) years thereafter.

Investor Bidding

An investor may not bid during the ten (10) day owner/occupant priority period. Once the owner/occupant period is over all bidders, including investors will be able to place bids.

Open Bidding

Any properties not sold during the initial ten (10) day owner/occupant priority period will be placed in this category and will remain for all bidders until a price reduction occurs or the property is sold.

Electronic Bidding - How To Place a Bid

*** All bids must be placed electronically via our website at www.clfres.com.
  1. Click on link on home page "find a HUD Property Click Here"
  2. Select search mode: Search by State, City, Property Address, Zip Code, Price Range, and/or FHA Case Number.
  3. Click on the "View Property Info" link below the picture
  4. Click on the appropriate button for your bid type below the “Submit a Bid” heading
  5. Enter Brokers NAID number (Federal Tax ID number cannot be used to place bid).
  • Enter Purchaser Price from Line 3
  • Enter Financing Type from Line 4
  • Enter Closing Costs from Line 5
  • Enter Selling Agent Commission from Line 6a
  • Line 6b must be left blank or you must enter a zero
  • Complete Purchaser Information
***The Purchaser's full name, social security number and address are required in order to submit a bid. If a company is purchasing the property, the company name, FIN, and address are required in order to submit a bid.
  1. Enter purchasers first name
  2. Enter purchasers last name
  3. Enter the Primary Purchasers social security number or FIN
  4. Enter purchasers address
  5. Enter purchasers city
  6. Enter purchasers state
  7. Enter purchasers zip code
  8. Enter purchasers phone number
  9. Enter purchasers fax number
  10. Enter purchasers email
***Note: All purchaser/company information must match the Sales Contract or your bid may be cancelled.

Broker/Agent Information

  1. Enter Agent/Broker phone number
  2. Enter Agent/Broker fax number
  3. Enter Agent/Broker email address
  4. Enter Agent/Broker Name
***Note: If you have been notified of the winning/accepted bid the complete sales package must be sent via overnight mail to CLF within 48 hours.

Bid Awards, Notification, & Information

The Chapman Law Firm will post winning bids to our website by 1:00 p.m. on the day following the end of the bid period. An email notification of bid acceptance or bid rejection will also be sent to the email address provided at the time of bid submission. The posted bid results should be considered a preliminary acceptance subject to the review and approval of an accurate, timely, and complete sales package.  NOTE:  All bids recieved between Friday at 12:00 a.m. and Sunday at 11:59 p.m. will be reviewed simultaneously on Monday.  Any bids placed on a federally recognized holiday will be reviewed on the next business day.

Accuracy of Bid Submission

Purchaser information during bid submission must be accurate. The information entered on your bid cannot be changed after the preliminary acceptance. False information given on submission will result in the cancellation of the preliminary acceptance and we will re-list the property or process a back-up offer.

Bid Acceptance

If your bid is accepted, it is your responsibility to make sure that The Chapman Law Firm receives your original sales contract package, including the purchaser's prequalification letter or verification of cash, within forty-eight (48) hours of bid acceptance.