Placing a HUD foreclosure bid is a relatively simple process. Once you’ve chosen the foreclosure home you wish to purchase, let your realtor know the amount you wish to bid. He can instantly enter the bid into HUD’s online auction system.
Before bidding on any property, you must: fill out a simple form, give your real estate agent an earnest money deposit in the form of a certified check or money order ( generally between $500 and $1000) and submit a lender pre-approval or pre-qualification letter to your agent. If your bid is accepted, the agent will submit these materials to the appropriate HUD office.
See Also: How to Qualify for Bidding on HUD Repos
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