All Forum Posts by: Jason Hoeschen

The RE agent is involved in the double close.  He is part of the process because he wants to receive the potential commission.  I only want to deal with what my agent can do for marketing here and not what I can do here.  I saw a reply dealing with what agents can do but it was not fully explained.  The following is what was written to an agent advertising question:

HUD is very clear only the listing agent can list the home, put a sign up, have open houses and put it in mls. Other agents who have NAIDs can advertise the home, but only huds sale terms. You can't advertise or market the home is any other way until you own it.

I don't know what was meant by "huds sale terms".

My agent has to do the bidding for HUD properties. My objective as a wholesaler is to do a double close with an end buyer and profit the end difference.

It has been stated that agents can advertise HUD properties, just not on the MLS. What I need to know is what is allowed for marketing for my RE agent on, say craigslist. Can a different price from the HUD listing agents be advertised? Can the address of the property be in the ads? Can someone direct me to guidelines or can my agent advertise anyway that he wants for the HUD property under contract before closing as long as it is not on the MLS?

We have had some bumps as to how I can advertise but I want to figure out how my agent can do it without problems.

Main question is what restrictions my agent has for advertising a HUD property I have under contract but not yet closed on.

Thanks

Jason

The assessment is a road/sewer type of assessment. On the HUD package it mentions that they prorate any assessments. I just either want to confirm that they don't pay or how to address it, other than tomorrow.

Thanks

Jason

I am about to bid on a HUD property that has a $3,500 city special assessment. HUD lists that they only pay prorated amount of assessments on a property they own. We were considering adding that amount on the bid form under closing costs that we want HUD to pay.

If I bid the minimum that HUD will accept, then add the 3,500 to what I want HUD to pay in closing costs for the assessment, will that then make the bid too low and not get accepted? It affects the net that HUD would get but does it also affect the percentage that would be the lowest accepted?

It's also possible that HUD just will never pay for city assessments(road improvements, sewer, etc.) Does anyone know if it is just prorated and that's it that they pay?

Thanks

Jason