Posted by ScottS on September 12, 2003 at 20:52:58:
OOPPPS, that part slid right past me.
Looks like it might work. I,m not aware of any special task one must complete in order to become a relocation agency, at least not in my state. Hang the shingle.
ScottS
Did I find the HUD 90 day rule loophole here? - Posted by js-Indianapolis
Posted by js-Indianapolis on September 11, 2003 at 24:25:41:
Or am I just tired, and hallucinating? OK, the new HUD rule for us evil flippers is here:
http://a257.g.akamaitech.net/7/257/2422/14mar20010800/edocket.access.gpo.gov/2003/03-10778.htm
However, I just noticed something. They made an exception for relocating companies. Here?s where they talked about it:
?Comment: The proposed rule could have significant negative
consequences on government and corporate employees relocated yearly by
their employers. Several commenters wrote that the six-month
restriction would have a negative impact on the thousands of government
and private sector employees that are relocated each year. The
commenters wrote that, from an employer’s standpoint, any house
purchased from a relocating employee would essentially be unsaleable
through the FHA programs because the six-month waiting period would
result in unacceptably large carrying costs. Several of the commenters
advocated that the final rule exempt properties acquired by an employer
in connection with an employee’s relocation from the restriction on re-
sales.
HUD Response. HUD agrees with the commenters and has revised the
proposed rule at the final rule stage accordingly. The final rule
exempts properties acquired by an employer or relocation agency in
connection with the relocation of an employee from the time restriction
on re-sales.?
And later on, they wrote it in their big official ruling.
Now, if you haven?t seen where I?m going with this already, why not set up a relocation company? Heck, half my sub to leads around here are job transfers anyhow. That just might help my business, regardless of skirting some ruling.
However, to the point, why couldn?t JS-Indianapolis Relocation, LLC buy Joe Seller?s house, and sell it in less than 90 days?
First time I?ve seen this exception. Am I off base here?
Re: Did I find the HUD 90 day rule loophole here? - Posted by ScottS
Posted by ScottS on September 12, 2003 at 15:01:01:
“Several of the commenters advocated that the final rule exempt properties acquired by an employer in connection with an employee’s relocation from the restriction on resales.”
It seems to me this is talking about a situation where an EMPLOYER is asking an EMPLOYEE to relocate for the benifit of the company and the EMPLOYER is going to purchase their home. It doesn’t appear to me there is any room for some “relocation assistance” company to work in this area.
To me they would only allow it if you was the seller’s employer.
ScottS
Re: Did I find the HUD 90 day rule loophole here? - Posted by rm
Posted by rm on September 11, 2003 at 07:00:13:
Better yet, you know have a niche marketing strategy, for people who’ve been relocated, but don’t get any benefits from their employer.
Read their response - Posted by js-Indianapolis
Posted by js-Indianapolis on September 12, 2003 at 16:29:57:
"HUD Response. HUD agrees with the commenters and has revised the proposed rule at the final rule stage accordingly. The final rule exempts properties acquired by an employer
OR RELOCATION AGENCY
in connection with the relocation of an employee from the time restriction on re-sales.?
OR RELOCATION AGENCY is key. That’s pretty clear to me that relocation agencies get a hall pass on this one. Now, what hoop do I jump through to be a relocation agency?