Experiences with Sage Acquisitions - Please Share

[Tom Kuhen]

I'm looking at a HUD deal right now in my market, and spoke with a local realtor who broke down how Sage runs things now. I'm just reaching out so I can hopefully get a better understanding of timelines since they took over. Please share any stories, good or bad, that you have gone through. I look forward to hearing from everyone.

Happy investing,

Tom Kuhen

[Tom Kuhen]

@Nicole W. I'm just looking for the general length it may take. What I was told, it goes something like this:

1. Submit offer with pre-approval / proof of funds letter

2. If offer is accepted, you have 48 hours to submit the wet-ink paperwork to the regional office (PA is the one for me), along with the EMD stated in the contract ($1,000) If you choose not to take the property, you are not bound to anything, so you could walk away without penalty

3. You have about 7 days to do inspections, get bids, etc. and should the contract allow for contingencies, this is your time to get out, but risk losing EMD (This is where I may be wrong)

4. Cash closing around 30 days

I've heard stories of closing times taking months since Sage has taken over. So if any of that information is incorrect, I'd appreciate some insight, so I can present more accurate numbers to a lender.

Thank you,

Tom Kuhen