U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 04-21-2012, 06:22 PM
 
3,036 posts, read 2,014,554 times
Reputation: 1882
Default Government should stay away from realestate

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
Reply With Quote Quick reply to this message

 
Old 04-21-2012, 07:36 PM
 
Location: Austin
4,261 posts, read 7,709,970 times
Reputation: 3261
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.
Reply With Quote Quick reply to this message
 
Old 04-22-2012, 08:01 AM
 
3,036 posts, read 2,014,554 times
Reputation: 1882
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.
Reply With Quote Quick reply to this message
 
Old 04-22-2012, 01:01 PM
 
1,125 posts, read 1,337,455 times
Reputation: 370
"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.
Reply With Quote Quick reply to this message
 
Old 04-22-2012, 01:13 PM
 
Location: Baltimore
1,593 posts, read 2,212,679 times
Reputation: 953
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.
Reply With Quote Quick reply to this message
 
Old 04-22-2012, 01:27 PM
 
Location: Salem, OR
10,799 posts, read 17,758,087 times
Reputation: 6646
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.
Reply With Quote Quick reply to this message
 
Old 04-22-2012, 02:32 PM
 
3,036 posts, read 2,014,554 times
Reputation: 1882
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.
Reply With Quote Quick reply to this message
 
Old 04-22-2012, 02:33 PM
 
3,036 posts, read 2,014,554 times
Reputation: 1882
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.
Reply With Quote Quick reply to this message
 
Old 04-22-2012, 02:34 PM
 
3,036 posts, read 2,014,554 times
Reputation: 1882
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.
Reply With Quote Quick reply to this message
 
Old 04-22-2012, 06:02 PM
 
Location: Salem, OR
10,799 posts, read 17,758,087 times
Reputation: 6646
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?
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6. The time now is 05:48 PM.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top