First Hud Home Listing in 4 Years Taken Away From Me!

I posted a video about this HUD listing that I got after four years a few weeks ago. I used to sell hundreds of HUD homes a year but I quit after the market changed and I focused more on my investing. being an REO and HUD agent was amazing, but I love investing on my own terms so much better and this situation proved that!

I was super surprised I got this listing and told the asset manager this as well. I mentioned to the asset manager that I had not listed a HUD home for years, that I was with a new company, and that they may want to assign it to another agent. The asset manager said, no, we want you to do it as it will be no problem and you can list it with your new company.

After a number of inquiries, I was told I could not be the listing agent because my office was not approved with them as a HUD listing broker and they would give the listing to another office. I mentioned the conversations about the assignment and me having a new office in the beginning and their response was yeah, sorry.

Here is an article on HUD homes and how they work as well:

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Mark Ferguson’s purpose is to help as many people as he can become financially free through real estate.
Mark started InvestFourMore in March of 2013 to discuss his rental property investing techniques. Mark expanded InvestFourMore to talk about his flipping business and real estate agent business. InvestFourMore now has 300,000 views a month and is one of the top real estate blogs.
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[sydneywood]

Love your sense of humor about this, Mark. Live and learn... Again. Glad you don't need this kind of work now.

[tmariepi]

What a pain! I feel angry, actually. They're going to have to reimburse you for the money you spent and they should also compensate you for all of your time and effort.

[jaybee]

Well, a little rain with the sunshine you bring us!

[jasongates-]

Thumbs up for this video. Thumbs down for HUD.

Hey, HUD! You hear Mark?! He denounces your listings! Don't give him a surprise listing anymore! And, he's in video saying he denounces you!

[capeythecockatiel]

Thanks for the story. Rude people always lose in the end.

[TOMTOM]

Now that you denounced sellinging HUDs (again), Buy it, fix it up, and flip it. That'll show em!

[HMFamilyLife]

Yeah, you're right, ain't nobody got time for that!

[carguy]

Hmm, from the sound of it, filing such listings in the circular file after receiving them would be a good idea.

[wildwoodtop]

Mr. Ferguson, from my understand Hud no longer pays closing / realtor commission for investor purchases? Appreciate if you could shed some light on this.

[lostintime]

I was contacted before about working on foreclosures. Things like changing locks, winterizing, small repairs, doing estimates for large repair, etc. I ran the numbers. I have to buy X amount of locks keyed to certain codes and other supplies. I spoke to a locksmith friend was surprised how little they were paying me per lock. Even paying him to rekey the locks I would be losing money. Then having to wait for my money. So I had to say NO thanks.

Now I am trying to find a side job doing estimating. I need another job to do while I am doing my full-time job. lol.

[charrussell]

this house is basically the same as the smoker house with the black appliances, so atleast we can see what it looks like without the nasty carpet. hud can be a huge pita but atleast you tried it to see if it was worth your time with the "new" company.. it's been long enough it's not really new new huh. happy thanksgiving

[AuntieM]

That's a nice house. Anything you do with the government is like walking with 2 left feet! You weren't treated well at all, but that's like in Realestate! Move on to bigger & better things! :)

[Dancesmoves]

I won an offer on the hud page, when everything was ready for closing it turns out that the house had a mortgage, now I have to wait for the city to pay that mortgage to close, how long does this process take?

[jannyj]

How rude! You should have said to him " c u next Tuesday" lol!

[JacquelineSealy]

Good morning. What is the square footage of this House?

[nancyoleksy]

I hope they give back the money you had to put out then. Since they just took it away from you. Wow how rude.

[trishpipkins]

Wow! That's not right. If telling truths burns bridges then those bridges need to be burned. On to bigger and better for you!

[hildamasi]

Your much to good for them. I didn’t like the kitchen.💜💜💜💜💜💜💜🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸 stay SAFE

[philp]

1st! so you won't recoup your cost's?

[christopherbellboy]

What is a writer? You said you're glad you didn't purchase a writer. But what is that?