Protest of HUD Rejection of Bid for Real Estate Closing Services, U.S. GAO, December 15, 1994.
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Protest of HUD Rejection of Bid for Real Estate Closing Services, U.S. GAO, December 15, 1994.

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Published .
Written in English


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ContributionsUnited States. General Accounting Office.
ID Numbers
Open LibraryOL15513226M

Download Protest of HUD Rejection of Bid for Real Estate Closing Services, U.S. GAO, December 15, 1994.

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Pearl Properties protests the rejection of its bid as materially unbalanced and award of a contract to Ricardo Real Estate under invitation for bids (IFB) No. , issued by the Department of Housing and Urban Development (HUD) for real estate management services for single family properties located in Richmond, Virginia. We deny the protest. A firm protested the Department of Housing and Urban Development's (HUD) rejection of its bid, contending that the contracting officer failed to provide the Small Business Administration (SBA) with all data relevant to making a decision to issue a certificate of competency (COC). The protester also requested that it be paid bid preparation expenses and attorney fees. services required and then seeking reimbursement for costs so incurred. DECISION Commercial Land Title of San Antonio, Inc., protests that invitation for bids (IFB) No. , issued by the Department of Housing and Urban Development (HUD) for real estate closing services. Vero Property Management, Inc. protests the rejection of its proposal for special property inspections (SPI) services as technically unacceptable under request for proposals (RFP) No. R-DEN, issued by the U.S. Department of Housing and Urban Development (HUD). We deny the protest.

Urban Development's (HUD) rejection as late of its proposal, under request for proposals (RFP) No. DUC, to conduct investigations of discrimination complaints filed by HUD employees. We dismiss the protest. 4 C.F.R. § (m) (), The RFP . and life cycle costs must be considered in determining which bid is lowest. Rejection of all Bids: All bids may be rejected when sound documented reasons exist. Such documentation shall be made a part of the files. Competitive Proposals Competitive proposals are used to purchase professional services where the total cost will exceed. On J HUD posted justification and approval document on , which identified 41 U.S.C. § (a)(2) and Federal Acquisition Regulation § as the legal basis for a class justification and approval to enter into a contract with PKMG on a sole-source basis for $18 million for 12 months of services. Bids will be opened and reviewed each business day. Results will be posted each business day by p.m. The highest acceptable net bid to HUD will be selected. If two acceptable bids, which are the exact same amount, are received the AM will select the winner by randomized electronic drawing. Eight Possible Responses To A HUD Home Bid.

these services would not be performed by an attorney. DZCISION Tripp, Scott, Conklin & Smith protests the award of a contract to First American Title Company under request for proposals (RFP) No- , issued by the Department of Housing and Urban Development (HUD) for real estate closing services for properties owned by HUD in central Florida. Mike, HUD does not counter offer regardless of your requested purchase price. They will tell you what their lowest NET allowable to HUD is and this figure can be reached by subtracting the listing agent, your agent (if you have one), and any closing assistance you are asking for up to 3%. Section 3 of the Housing and Urban Development Act of Resident-Owned Businesses Contracting with Resident Management Corporations (RMCs) Assistance to Small and Other Disadvantaged Businesses Chapter Public/Private Partnerships, HOPE VI, Mixed-Finance Development and Bond Financing. Real estate agents who have experience bidding on HUD homes will often use the percent strategy. This strategy doesn't make sense in every scenario. But you can use it as a general rule of thumb. For an explanation of this bid logic, I'll defer to Al Hardymon. He has years of experience with buying HUD foreclosure homes.