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Old 04-21-2012, 07:22 PM
 
3,039 posts, read 2,142,992 times
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Everything they do is stupid, but here is 3.

Most people don't realize that people that shouldn't buy a house are still getting government loans, they just call it something else now.

I tried to make a really good cash offer on a VA owned home and it was rejected outright because the VA will not let me represent myself. It is still on the market and nobody wants it. It has been 2 months. In their infinite stupidity they've created a process where they have to reject good cash offers.

The whole buying a HUD home process. We have a more than adequate system for buying and selling houses and this branch of the government creates their own that can be an obstacle just because it's a whole different process. Why?

There, now I feel better
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Old 04-21-2012, 08:36 PM
 
Location: Austin
4,418 posts, read 8,231,904 times
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Then why don't you get an agent in your office to write up the offer, and work out a deal that they give you a 95% referral fee back, leaving the 5% for their effort and E&O insurance. On $100,000 with $3k commission, that's $150 to your buddy.
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Old 04-22-2012, 09:01 AM
 
3,039 posts, read 2,142,992 times
Reputation: 1897
Quote:
Originally Posted by FalconheadWest View Post
Then why don't you get an agent in your office to write up the offer, and work out a deal that they give you a 95% referral fee back, leaving the 5% for their effort and E&O insurance. On $100,000 with $3k commission, that's $150 to your buddy.
I'm considering something like that.
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Old 04-22-2012, 02:01 PM
 
1,128 posts, read 1,428,438 times
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"We have a more than adequate system for buying and selling houses . . ." Do you mean simply the power of the marketplace and use of lawyers? Do you mean it's HUD that should stay out or that there should be NO government regulation of realtors, financing, title, zoning, disclosure of defects, ordinances on sewage, etc.? Your subject line is pretty sweeping.
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Old 04-22-2012, 02:13 PM
 
Location: Baltimore
1,607 posts, read 2,343,200 times
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Because the brokerage I work for, which is a very large independent brokerage on the Mid Atlantic region, sells HUD homes, I as an agent of that brokerage cannot purchase any of those homes. Technically no one that I am related to could either.
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Old 04-22-2012, 02:27 PM
 
Location: Salem, OR
10,935 posts, read 18,599,772 times
Reputation: 6865
I don't think the HUD process is hard at all. In fact for a government process, I find it pretty streamlined. I actually think it is easier than our regular real estate process.
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Old 04-22-2012, 03:32 PM
 
3,039 posts, read 2,142,992 times
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Quote:
Originally Posted by Samoi137 View Post
"We have a more than adequate system for buying and selling houses . . ." Do you mean simply the power of the marketplace and use of lawyers? Do you mean it's HUD that should stay out or that there should be NO government regulation of realtors, financing, title, zoning, disclosure of defects, ordinances on sewage, etc.? Your subject line is pretty sweeping.
My OP mentioned three things I think are very stupid, your post mentions other things entirely.
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Old 04-22-2012, 03:33 PM
 
3,039 posts, read 2,142,992 times
Reputation: 1897
Quote:
Originally Posted by davecj View Post
Because the brokerage I work for, which is a very large independent brokerage on the Mid Atlantic region, sells HUD homes, I as an agent of that brokerage cannot purchase any of those homes. Technically no one that I am related to could either.
Again, stupid.
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Old 04-22-2012, 03:34 PM
 
3,039 posts, read 2,142,992 times
Reputation: 1897
Quote:
Originally Posted by Silverfall View Post
I don't think the HUD process is hard at all. In fact for a government process, I find it pretty streamlined. I actually think it is easier than our regular real estate process.
I expected you to say that.
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Old 04-22-2012, 07:02 PM
 
Location: Salem, OR
10,935 posts, read 18,599,772 times
Reputation: 6865
Quote:
Originally Posted by Nocontengencies View Post
I expected you to say that.
Of course. I disagree with you constantly.

You act like the process of real estate is the same across the nation, which it isn't. Every state has its own process. It makes absolutely no sense for a government entity to have 50 different processes. Talk about being inefficient and costing tax payers more money. It took me the whopping 30 minutes to enter the bid and go over the paperwork with my clients on the offer on a HUD house today. How is that hard?

Any agent that thinks the HUD system is hard shouldn't be selling real estate. They have no more rules than any other REO does. BofA doesn't allow employees/relatives of to buy their foreclosures. What's the difference?
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