Foreclosure in Louisville>Question Details

Mark & Paula…, Real Estate Pro in Louisville, KY

Why did HUD quit using Bidselect to market their foreclosures?

Asked by Mark & Paula Atteberry, Louisville, KY Mon Feb 7, 2011

The process has slowed to a crawl and the communication is awful since they . This was down to a science and now it has taken up to two weeks just to get a response that our bid was accepted. Anyone else having problems?

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Seems like the contracts for those vendors have very finite time periods and they get changed to new vendors frequently. Can't speak for this vendor, but I have noticed that in the past.
1 vote Thank Flag Link Mon Feb 7, 2011
Mark if you look the commisssion dropped also. On distressed properties in my area the max used to be 5% and on target properties (time on market, condition, area) it went up to a max of 8%. I don't think that I am going to be writing offers on any 5000.00 properties soon. A whopping 150.00 that I have to split with my broker does not pay for the time and energy.
0 votes Thank Flag Link Mon Feb 7, 2011
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