Choice. It’s a beautiful thing. No one likes to be “forced” to do anything right? I know I don’t. The thought of not having a choice reminds me of being a child. “Stephen… you will be home by 9:00!” Life simply isn’t much fun without choice.
Everywhere we go we have it – choice. We can choose to have Pepsi, Coke, water at our favorite restaurant. We can choose who we go to that restaurant with, again – no one likes to be told what to do.
Having no choice simply sucks. We hate not having choice so much, our own government frowns upon it – choice. There are no monopolies. No one company can control any market.
No Choice in Title Company
We have choice everywhere. Well, we do now anyway. But that wasn’t the way it was last week and years prior. If you are a HUD real estate agent or represented a HUD buyer you know that. You had no choice. It was made for you. You HAD TO USE ONE SPECIFIC TITLE COMPANY when buying or selling a HUD property.
Didn’t like the company location? TOUGH. Don’t like your escrow officer? TOUGH. Don’t like the company? TOUGH. You had no CHOICE. It wasn’t like anything else, you couldn’t vote with your feet and leave. (Even though you probably wanted to)
Well, now you have it – CHOICE. And it’s a beautiful thing. You can now CHOOSE your own title company when buying or selling HUD properties. (ouch my ears – that was loud!)
Termed “Buyers Select” it means all buyers whose contracts are executed on or after Nov 17, 2013 in the State of Arizona will be required to select their own title company. Previously HUD dictated the title company to be used to close a HUD transaction. Effective 11/17/2013 the selling agent will now be required to complete an addendum providing the name and contact information of the buyer’s selected title company. This addendum must be submitted with the contract package at the time of bid acceptance.
Previously, escrow fees were paid by HUD, effective 11/17/2013 these fees will now be the responsibility of the buyer on any HUD transaction. HUD will pay a portion of the closing fees, if the buyers agent includes closing costs on line 5 at the time of the bid – HUD will either pay closing costs or HOA – buyers choice
Buyer Chooses Title Company
So, you now have a choice. And it’s a beautiful thing. Buyers agents, you are now required to deliver the earnest money check to the listing agent within 48 hours of bid acceptance. The listing agent will then next day the contract to BLB Resources in Irvine, California.
Sell More Get More
HUD agents – your ability to receive MORE HUD properties is dependent on you selling the current HUD properties you have. So, the faster you sell them, the more you get. Which means, marketing. All agents at all levels need marketing and this is where I can help. Yes, I have postcards and flyers, yes I have door hangers and labels, I HAVE EVERYTHING THOSE OTHER GUYS HAVE (and more), with a few HUGE distinctions: VIDEO, WordPress and IDX. I shoot HD Videos for my clients listings AND I can help you get them on the first page of search engines like Google where over 90% of consumers start their home search.
For more information about “Buyers Select” or for help growing your real estate business – online, where a consumer would naturally look for you and the services you provide, please fill out the form below.