Yes, and when drying, avoid direct sunlight. And if your going to store the bulb a little longer, pack in very slightly dampened peat moss in a vegetable food storage bag is usually sufficent. However, if this is a very expensive bulb or one that is very important to you, a better choice of repacking material would be slightly dampened raw sphagnum moss which you can 'hand chaffe' a little first. (clean hands or gloves) If you happen to have a little Captan around you could dust the bulb with a little that too, but if not, don't worry, you'll be ok.
I've soaked many bulbs over the years and always felt glad that I did. It works!
Edit note added: Make sure when you are drying, keep safe from rodents (mice and chipmunks, etc.) I had a couple chewed to bits one day by a chipmunk who had his last supper, right then and there.
