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7830 Veterans Parkway, Building C
Columbus, GA 31909
Office: 706-576-2400
Cell: 762-207-8778
Email: info@HudSoldHere.com

Everything You Ever Wanted To Know About The HUD Sales Process
How Does HUD Determine The Bid Winner?
HUD does not determine the bid winner based on purchase price alone.  There are a few things that factor into the equation, which I will cover in this blog.

The bid will be awarded to the bidder whose offer has the highest "Net To HUD", which is pretty much HUD's bottom line.  The way the Net To HUD is calculated is:

    Purchase Price
-   Closing Costs Paid
-   Listing Broker Commission
-   Selling Broker Commission
         NET TO HUD

For instance, if a property has a Purchase price of $100,000 and the purchaser is requesting that HUD pay the maximum closing costs (3%), here is how to calculate the Net To HUD:

   $100,000  (Purchase Price)
-        3,000  (Closing Costs)
-        3,000  (Listing Broker Commission)
-        3,000  (Selling Broker Commission)
   $91,000     (Net To HUD)

In the event that there is ever a tie between two bids, the system will randomly select one of the bids as the winner.  For that reason, I always recommend that buyers either add or subtract a couple of dollars from either the Purchase Price or Closing Costs to help avoid being in a tie situation.
Posted By - Terri Kilpatrick - 10/27/2011
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