TREIA Ladies Group, Women in Investment Real Estate…check it out!!

The Treia Ladies Group, Women in Investment Real Estate, met for lunch Wed. Sep 28 at Biaggi’s Restaurant. The discussion was led by Cynthia LaChapelle on buying HUD homes based on her experiences as both a Realtor and Buyer…

Many investors have mentioned lately that they had a contract on a HUD foreclosure but lost it. The ladies learned that there is a difference between winning a HUD bid and actually having a contract. A large percentage of these deals fall out because of not completing the follow-up paperwork within the time-frame HUD requires or in the manner they require.

Few people know that all HUD bid acceptances must be followed by original HUD paperwork and overnighted back to them. They will cancel a contract for such infractions as having any white out on the page, not having original signatures, not writing the name or names of the buyers exactly as the original bid, using the wrong color of ink, failing to provide documentation that they may or may not have previously requested, etc., etc.

We shared secrets of ways to buy HUD listings that almost no one knows are for sale and what kind of ridiculous hoops you will have to jump through to get the transaction closed. It was a very lively conversation.

All ladies are invited to attend this group whether they be members yet or are thinking about joining. We meet the LAST Wednesday of each month at Biaggi’s restaurant in Cary at Preston, 11:30-1:30. Please rsvp so we can get a headcount. For more info please contact TREIA Vice President Cynthia LaChapelle @ CynthiaL@mindspring.com.