Thursday, December 19, 2013

Attention Brokers / Agents:  Changes to the bid opening guidelines (effective December 2, 2013):
Here’s what has changed:
- Exclusive listing period for FHA-insurable homes is 15 days instead of 30.
- Bids coming in on Friday, Saturday, or Sunday will be grouped together for the Asset Manager’s consideration on Monday.
- The 10-day bid-accumulation period at the beginning of the Exclusive period for FHA-insurable homes will be extended up to three days depending on whether the 10th day falls on a Friday, Saturday, or Sunday, and if there’s a Monday Federal holiday.
Note: This does not apply to the 5-day Exclusive bid-accumulation period for FHA-uninsurable homes since day 6 falls in the Extended listing period.
- Bids coming in on a Federal holiday will be grouped with the previous days’ bids.
Happy Selling!!!