REO PURCHASE PROCEDURE

We have access to a huge REO inventory and have streamlined the REO purchase process to make your transaction as smooth and efficient as possible. We have improved the process by reduced the number of involved brokers and have found a reliable dependable sources that can provide product. Therefore, you will have a better opportunity to successful complete an REO purchase. Our sources provide REO packages from 15M up to 50B for both custom compiled and completed packages. Let us know how we can help you.

Getting started is simple: NCND & FEE agreement between broker parties. The next step requires an LOI (letter of interest) stating what volume size & geographic areas are of interest. The LOI must be on company letterhead along with name contact number. A proof of funds (POF) letter must also be prepared containing the name and phone number of buyers funding institution and person to contact. A Bank representative will then set up phone meeting with buyer. Please call me with any questions.

Purchase Steps (Brief Outline)

NCND & FEE agreement between brokers & buyer
Optional preliminary conversion with sellers representative
LOI (letter of interest) stating what volume size & geographic areas
POF letter (Proof of Funds) investors ability to purchase
Phone meeting with source attorney
Buyers review of the properties on spreadsheet
Contract Closing

When a Source reviews the information and is satisfied Buyer is able to pay for REO’s then they accumulate the properties according to the LOI. You will receive list in approximately 7-10 business days. Some sources require that a 5% - 10% refundable deposit be made prior to release of compiled lists to buyer. The buyer will then have 3-7 business days to review information before making decision to purchase or reject list of REO properties selected. If package is doesn’t meet your criteria, send a cancellation notice via fax on or before last day of cancellation. All purchases must be made with good fund or cash or line of credit.