Purchasing Bulk REO's, NPN's and PN's

By
Services for Real Estate Pros with Arbitron Enterprises, Inc.

QUALIFYING YOUR BUYER

To know if a potential buyer is serious or not, you are going to have to know what questions to ask. The right questions yield the right answers. The right answers yield a closed deal.  A closed deal yields a nice commission.

THE POTENTIAL BUYER'S NEEDS:

A. Find out what they want:

REO's, Builders Close Outs, Performing Notes, Non-Performing Notes.

B. Location ------ States, or Nationwide

C. What LTV (Loan to value) are they looking for?

D. Amount they are willing to purchase as a take down price? Ex. $100M, $50M, $20B

E. PROTOCOL, PROTOCOL, PROTOCOL. 

    YOUR BUYERS "MUST" FOLLOW IT, IF THEY INTEND TO CLOSE A DEAL WITH US.

•·         Sign Arbitron Enterprises, Inc NCND first.

•·         Sign investor's NCND

•·         Sign investor's genealogy form.

Once these documents have been filled out and returned, we will then arrange a conference call between our sellers mandate and/or the buyer, his mandate or his attorney. On that conference call buyer MUST be ready IMMEDIATELY to provide a verifiable LOI and POF (from bank, investment entity etc. on the institutions letterhead) to the sellers mandate upon request.

•·         Seller's attorney will proof your buyer and then buyer will get the full tape. 

      After 24 hours, buyer MUST deposit 10% refundable deposit in a nationally known title, escrow company or Attorney's designated escrow.  Your deposit will secure your order during the due diligence period.

·          Following the 3-4 day due diligence period, your buyer will receive a purchase contract and close the transaction.

Turn around time is about a calendar week or less depending on turn around of all parties and due diligence.

close

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Tags:
bulk reos
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non performing
residential
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Rainmaker
284,346
David Matney
Alliance Real Estate - Omaha, NE
Omaha, NE Real Estate | Omaha, NE Homes For Sale

Hamilton, welcome to activerain and congratulations on your first post.

Jun 23, 2008 07:44 AM #1
Rainer
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Crystal Corr
Keller Williams Greenville Central - Simpsonville, SC

Welcome to Active Rain. I hope you will enjoy it and learn from it as much as I do. Happy Blogging.

Jun 23, 2008 08:05 AM #2
Rainer
55,481
Diane Lombardino
Keller Williams Realty of Jupiter - Palm Beach Gardens, FL

Welcome to Active Rain.  Great first post.  I'm looking forward to more.....see you around Active Rain.  Good Luck!

Jun 23, 2008 09:42 AM #3
Rainer
160,380
Dwayne West
Atlanta Real Estate - Canton, GA
Canton Georgia Real Estate

Welcome to the Active Rain community. You have chosen a great site with tons of information you can learn from.

Jun 23, 2008 10:22 AM #4
Rainmaker
257,190
Greg Steffens
Mountain Country Realty - Lake Arrowhead, CA

Welcome to Active Rain and congrats on your first post.  Be sure to spend some time looking around at what and how others are blogging here.  It is a great education and lot s of fun.  Looks like you're off to a great start...keep it up!

Jun 23, 2008 01:49 PM #5
Rainmaker
557,680
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Hamilton,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to ya!

-Keith

Jun 23, 2008 03:33 PM #6
Rainer
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Scott Magaw
The Bill Kennedy Team - Keller Williams Realty - Spartanburg, SC

Welcome! It's great to have you here.  I have only been on the 'rain for a short time but I love it already!  Enjoy all there is to learn on here.

Jun 23, 2008 11:00 PM #7
Ambassador
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Kirk Westervelt
Van West Realty - Greenville, SC Realtor -Short Sale Expert! - Greenville, SC
Kirk Westervelt, Broker In Charge, Van West Realty - CDPE - Short Sale Agent - Home for Sale - Greenville, Simpsonvil...

Hi, welcome to Active Rain! I hope to see more of your blogs in the future. Learn from others, share your knowledge and experiences and enjoy yourself! Take care! ---Kirk.

Jun 24, 2008 02:34 PM #8
Rainmaker
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Peg Gilliland
Charlottesville Solutions - Charlottesville, VA
Broker, GRI, CDPE

I see that you are new to Active Rain and I just wanted to welcome you. I hope that you enjoy it as much as I do and that you find it a great resource.

Jun 29, 2008 08:45 AM #9
Anonymous
Anonymous
Caliber Real Estate Investments

Direct Bulk REO Source

We have established direct links to several institutions over the last few months. We have closed several deals in that time. We are finally seeing real capitulation on the institutional side when it comes to pricing. We have been dealing with fake buyers and are tired of it. We are no longer willing to jeopardize our relationships with our sources. All buyers must be able to prove that they are real. Our protocol is as easy as it gets. We are not a source for you if you are looking for somone to just send you a tape without knowing anything about your ability to take down the package. If someone just sends you a tape they are not real. "Tape chasing" is a terrible way to go about this business. If you get a tape it is most likely already sold, has been flipped once or twice, has been sent to you by someone not authorized to market the tape or is just plain fake. Feel free to contact us at info@CaliberREI.com if you are a buyer or are direct to a buyer. No chains. We are not a chain, so you don't be one either.

I also have a program for REO that can best be described as a clearing house. The buyer has the ability to take down a single property or up to a max of 50M. The buyer has complete control over the property selection. Each property comes with a state of the art due diligence package. This is a perfect and best opportunity I have seen for the smaller or individual investor.

Sep 18, 2008 03:46 PM #11
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Rainer
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Hamilton Floyd

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