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Competing contract bid buying a house?
Bid on a FHA foreclosure. Same day, identical bid amount competed against us. Next day both parties were to turn in SEALED envelopes by 4PM. Ours was sealed. The other party had an open envelope and beat us by $1900. FHA is supposed to award to occupants. The winner is a speculator. Should I challenge?
1 Answer
- 8 years agoFavorite Answer
They beat you by $1900. There is nothing to challenge. That their envelope wasn't sealed means nothing, they are required to take the higher bid.
