Frustration with HUD purchase, Sage Acquisition and title company

[Sebastian Taylor]

Hi All,

My title company screwed up the HUD purchase for the second time in a row. Actually, I am in the middle of a second case. I understand that dealing with HUD is tough, but what pisses me off is that my title co agent blames everything on Sage and retreats. Sage, on the other side, blames everything on HUD guidelines, and you know, you can't call HUD. When I as a buyer (or as an agent, doesn't matter) call Sage, I face a gatekeeper who says that "Unfortunately, nothing can be done now." The same is in responses from the clerk who is assigned to the case on Sage side.

If anybody has any good title company agent, who is accredited with HUD, and who can close HUD deals quick, I would appreciate a referral!

Unbelievable, all cash purchase cannot be completed in 30 days, and it looks like I am loosing this deal.

[Russell Brazil]

Its actually not uncommon for a HUD property to take longer if you are using a good title company. HUD comes, and many REO's have huge title defects that can take a long time to fix. I know title companies who will work quickly on these issues.....but they dont properly clear the title so you are stuck with a defective title down the road. Many times HUD will have a title company they suggest you to use, and they will pay for your title insurance if you use them. These are often mediocre title companies, but you get the free policy at least.