In co-operation with large Institutional Investors (HSBC, Morgan Stanley, Bank of America, Chase, etc.), we have created a process for requesting customized bulk REO packages for buyers. These Institutional Investors are constantly reorganizing their portfolio to maintain regulatory and liquidity requirements, which allows them to release a percentage of their REOs for bulk sale. We have these opportunities available immediately. Our requests are compiled on a first-come, first-serve basis. We are direct to the seller’s mandate! In order to complete the requests accurately and in a timely manner we need the following documents:

  1. Letter of Intent
  2. Identification Card
  3. Proof of Funds
After documents are reviewed, an executive draft of the Non-Disclosure / Non-Circumvention (NCND) agreement and a Master Fee Agreement (MFA) is issued.No more than 2 intermediaries (Buyer and Seller) are recognized by seller, and they should both be named on the LOI. The PerDare Group is the seller’s intermediary - all other intermediaries need to go under Sub-Fee Agreement which can be paid out to a paymaster and distributed accordingly.All Buyer and Seller proofing, actions, instructions, transfers, closing and funds disbursement are performed by Title I Escrow Company. Usual sequence is 3 business days to review summary tape and provide decision; 7-15 business days for due diligence (depending on institution); 1-2 days for Buyer and Seller final negotiation; 1-2 days for closing. If interested or if you have any questions regarding this process please contact me at charlenerizzo@gmail.com

Views: 7

Comment

You need to be a member of Real Estate Investing - Investment Articles Forum Tips Clubs to add comments!

Join Real Estate Investing - Investment Articles Forum Tips Clubs

Comment by Calvin Hayden - Private Money Resource Programs on November 10, 2008 at 6:46am
Hello Charlie,

I work with investors that will provide funding for individuals that want to buy and sell REO's simultaneously to end buyers. No limits on this kind of transaction. These funds require no down payment and no credit. This could be the final piece of the puzzle for most investors in order for them to move forward.

Feel free to contact me with any questions @ calvinhayden@cashflowmail.com

Reviewed Investing Websites and Software

© 2022   Created by Matt Gerchow.   Powered by

Privacy Policy  |  Report an Issue  |  Terms of Service