I have four pending transactions with HUD owned homes. Or do I? I just have a hard time knowing. As a real estate agent I have to sit here and wonder how the buyers lost any control over the process whatsoever. Buyers have the cash. Buyers have the will. Yet buyers cannot close on properties under contract because of the inefficiency of HUD an HUD’s contractors.
Want an example? After 60 days (or so) of no contact from Luna & Luna, HUD’s contractor for Missouri closings, I get a blank, unsigned form letter saying everything from “everything is great” to “you’re screwed.” (So I’m paraphrasing, a little.) Seriously, there are 5 check boxes with an assortment of possibilities that I’m supposed to worry about, yet they are all blank.
Dear Scott Luna of Luna & Luna, your business is run horribly at this point. Yes, I know you are an attorney and yes I know you will probably read this one day and threaten to sue for something. But everything I’m stating is true. I have over 80! (yes I said eighty) un-returned phone calls from your company. I have sent dozens and dozens of emails to your company, most of which have gone un-returned. Representatives of Matt Martin Real Estate, Pemco and HomeTelos all agree there is a problem. I have had my properties supposedly put on “hot lists” but I sure as heck can’t tell nor am I able to verify anyone knows what’s going on nor can I give my client any idea of when we may, or may not, be able to close.
I simply have to tell my clients and anyone else that will listen that unless they want to join this endless morass of uncertainty that the best thing they can do is pass on HUD owned homes. I certainly don’t have the time.