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77079 : Real Estate Advice

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  • Local Info0
  • Home Buying7
  • Home Selling1
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Activity 10
Thu Jun 23, 2016
thesupermomma asked:
Sun Jun 2, 2013
ian cockburn answered:
nonsense..tell that Realtor the only person who will get sued will be their broker and the meantime they will have to have a serious discussion with your States real estate commission.

HUD is not in the business of suing buyers. Your Realtor is on the border line of being unethical and not representing you. If this person is willing to sell their soul for a dollar, they can't be trusted. Never deal with anyone who starts the "suing" line of guano.
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Wed Mar 27, 2013
Persis Behramsha answered:
Maggie, if you are still looking, please let me know what part of town you have a preference for, what your budget is, if you have pets, and if you have a clean rental and credit history, so I can send you specific information on the apartment that meets your needs.
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Mon Nov 19, 2012
Maria Gilda Racelis answered:
Are you being represented by your realtor? Have him/her contact the listing agent to find out exactly the procedure on how to get the utilities activated for the home inspection.

HUD hire different asset managers and they all have different set of procedures. These asset managers hire different listing agents.

Normally, the property management or preservation company hired by HUD puts the utilities under their name. And then the buyer call the utility companies to transfer the service into his name days before the home inspection. Then request for deactivation after the inspection.

Again, have your realtor check it with the listing agent.

Best of Luck.
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Mon Nov 19, 2012
Jordana Ford answered:
You will be spending a lot of time with your Realtor, so it should be a good fit. Trust is the most important issue. If your feeling is that someone is trying to push you to close the sale that could be a problem. However, I have told clients that there were multiple offers, we need to move fast, we need to put in a full price offer and other things that could be perceived as pushing and I was just being honest with them about the market. It sometimes takes losing a few before people believe you. As far as pointing out features...we all have our own way of showing property. A good Realtor will back off if you seem to need some space to tour on your own. I see so many properties that I notice things that most buyers will not. It's my duty to keep you from purchasing a house full of deferred maintenance, or at least make sure you are aware. Keep looking for someone who puts your interests first. ... more
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Tue Jul 17, 2012
Steve Harless answered:
Depends on the contingencies in the contract. On My contracts, I always have an inspection contingency where the EMD is refundable if and when during the due dilligence period the buyer wants to terminate the contract. ... more
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Fri May 25, 2012
Anthony Taylor answered:
Tue Oct 19, 2010
Brandon Jenkins answered:
I would have to agree with Lynn. Its just too much of a situation to sort out without your paperwork. I will say this your sales contract should have stated that you would need lender approval of this deal. Your agent should know this ... more
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Tue Oct 19, 2010
I ran into this problem on a cashout refinance in The Woodlands last year. The Woodlands HOA then did not subordinate and only issued the 60-day letter. The lender I was using refused to close the deal which was about 2/3 done when I found this out. If it helps at all I switched my client to Security National who had no problem accepting the 60-day letter and we closed it. They were the only ones I could find of the regular lenders I use that would take it.
That was a year ago so I don't know if they've changed their policy. I know that The Woodlands switched over Jan 1 to a new form of HOA and now it's not supposed to be a problem there. I understand there are still HOA's scattered around that refuse to subordinate, though, and obviously yours is one of them. Ask your mortgage guy to contact Security National and see if they can do it. Unfortunately you'll probably need a new appraisal...
Good luck - Rick
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Tue Apr 6, 2010
Doc & Ellen Stephens answered:
Before submitting a HUD offer, your agent has to certify to the following: [copied from the HUD site -]

You are about to submit an offer to purchase a property from the U.S. Department of Housing and Urban Development (HUD). Before submitting an offer, you must have in your possession the following:
1. A completed HUD 9548 Sales Contract including appropriate addenda signed by the qualified purchaser(s) whose Social Security number(s) will be entered on the offer submission screen.
2. Proper Earnest Money to hold on behalf of HUD. Proper Earnest Money is considered the appropriate amount and in certified funds. (No personal checks or cash.)

Submission of an offer defining the purchaser(s) as an Owner Occupant when the purchaser(s) actual status or intent is that of an Investor, knowing the same to be false, subjects the person placing the bid to a possible $250,000 fine or two years imprisonment or both, as per Paragraph O of the Conditions of Sale on the back of the HUD-9548 Sales Contract.

If you have not complied with the terms set forth in this Warning, the offer you enter will be considered FRAUDULENT. Fraudulent offers subject all parties including the party entering the offer and the purchaser(s) to severe penalties under the law. Signify that you understand this warning and have fully complied with all the HUD requirements by completing all fields below.

I understand the warning and the disclaimer. Yes, this is a good faith offer. I also certify that I am a licensed real estate agent in good standing with all applicable licensing authorities and further agree to the Agent Policy:

and this:

Certification of Broker: The undersigned certifies that: (3) he/she has explained fully to the purchaser the entire terms of the contract, including Condition B on the reverse hereof; and (4) he/she is in compliance with
Seller’s earnest money policy as set forth on HUD forms SAMS-1111, Payee Name and Address, and SAMS-1111-A, Selling Broker Certification, which he/she has executed and filed with Seller.

If your agent did not comply with all these items, you should have a brief conversation with the agent's broker, explain exactly how the deal happened, and ask politely when your check will be ready.

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