All Forum Posts by: Lynn Bown

"The thing that may have happened was my realtor was using a NAID of a broker who has recently passed away. So I am not sure if it allowed it because recently it was a valid NAID. But if this was the case would they not allow us to give them the proper information and continue on with the purchase agreement?"

If her broker passed away the question is where is your agents license hung?  If they were using a NAID from another broker that they are not with this would be disallowed even if the NAID approved broker was still living.  Agents are not independent and can only offer on HUD properties if the broker they are under is HUD approved.

Welcome to BP from North Port Florida!

Welcome to BP from North Port Florida!

Lynn

North Port central florida

[email protected]

Their is a ton of small brokers out there that will hang your license at a 95-100% commission with transaction fees only if you buy or sell. You will still have NAR fees and MLS fees yearly about 900-1100. If you are not really wanting to operate as an agent you could also find brokers or agents that will enter you as an assistant with access, with the hope that when you have need for a realtor you would use their services. This is a little harder and does require their brokers permission but would be the least costly to you.

You might also consider doing a separate trust on each property defining the rights of each party in a trust agreement.  This also opens up options in selling to selling positions in the trust on exit.

My advice is pass and give me the address to this dump, promise I wont buy it. just kidding. 

I deal with foreclosures all the time.  Most owners are scared, avoid the phone, dont read notices and just hope it will all go away.  Since they are behind they usually cant afford to move either and dont want to be homeless.  Most banks offer 1500-3500 cash for keys with deed in leiu if they just leave it broom swept and tidy. But most owners are not aware or just dont ask for this.  On the rent issue the other problem is that owners have learned it it a long process and if they just hide they can stay 9 months up to  3 years I have seen rent free.  This make them a risk for the bank so cash for keys or deed in lieu is safer for the bank.

correction [email protected] sorry too early to be typing lol

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