We Want to Help You Acquire Bulk REO Real Estate Investments

As principle buyers of distressed real estate we offer an opportunity to qualified investor partners to allow them into the “inner circle”. We view our role in the REO process as facilitating legitimate bulk REO transactions between qualified buyers and sellers of foreclosed or distressed real estate portfolios. Once our clients overcome the natural trepidation that has been inherent in the REO process, (which is often based on their past unsuccessful attempts to acquire REOs), we proceed to “business as normal” and source mutually advantageous deals that can be consummated quickly so long as the disposition strategy is satisfactory to our firm or you follow The CCG Solution TM.

It is our goal to bring a high level of legitimacy, trustworthiness and confidence to the bulk REO arena. This will engender an atmosphere in which all parties can complete their bulk REO real estate transactions quickly and efficiently.

We Are Honest, Trustworthy People Who Have Substantial Experience in Real Estate

Our combined years of experience in various real estate fields as Real Estate Investors, developers, asset managers, and finance give us a rare combination of knowledge, experience and trustworthiness that is often lacking in today’s REO world. Current economic conditions have created a proliferation of Bulk REO offerings at well below market value. We believe that this temporary situation presents a timely opportunity for hedge funds and investment companies with large sums of available cash.

Unfortunately, the burgeoning Bulk REO marketplace has created an environment devoid of scrupulous and inexperienced real estate professionals capable of assisting legitimate buyers in achieving their real estate investment goals. In too many instances, the REO facilitators are individuals who may not have the required knowledge, understanding and professionalism to undertake such complex proceedings. The sad result has been a growing number of frustrated real estate investment groups who have been disappointed when the people they trusted to provide REOs were unable to deliver the product. Similarly, many banks have wasted valuable time with buyers who were not financially able to consummate the transactions.

The natural result of this breakdown in the bulk REO sales process has been a deep-seated distrust and lack of confidence among buyers, sellers and their respective representatives and intermediaries. This has caused many potential investors to remain on the sidelines and miss out on these timely investment opportunities.

Until now, it has often been near impossible for the serious real estate investor to accurately evaluate the credibility and trustworthiness of the individuals and companies claiming to have REO product available. We have experienced firsthand an extraordinarily high level of skepticism by both buyers and sellers. Each side fears that the other is wasting its time, and is unable to consummate the transaction. CCG has created the solution for this. Call today and speak to one of our qualified representatives

PROCEDURE TO BUY REO PROPERTIES

If you are not investing in our Fund and you are interested in purchasing BULK REO and are well qualified, experienced savvy buyers please follow the introductions below.

In order to qualify for the purchase of REO properties from banks or funds, standard protocol must be followed:

Only serious well qualified cash purchasers are eligible.

Mortgage Financing Is Not Permitted at Closing.

Non-Circumvention Non-Disclosure (the “NCND”) Agreement must be signed by the purchaser. (We will provide the NCND Agreement.)

Investors must submit a Letter of Intent or Letter of Interest (the “LOI”) stating the following critical information:

  • Property Types Desired
  • Preferred Geographic Locations
  • Desired Rehabilitation Levels (i.e., zero to light, medium to heavy, etc.)
  • Initial Order Amount
  • Price (Desired percent of market value)+ 3% brokers’ fees
  • Exit Strategy: i.e., Hold/Lease and/or Resale
  • Future Intentions: i.e., Periodic and/or Monthly Purchases

Investors must submit a Proof of Funds (the “POF”) stating that the buyer has liquid assets sufficient to cover the amount of the desired transaction. Satisfactory proof of the purchaser’s liquid funds in the amount of the purchaser’s Letter of Intent is required early in the process by virtually every seller of REO bank owned real estate. No list of properties will be provided to the seller without such proof. This requirement may be satisfied by any of the following:

  • current bank statement confirming funds on deposit in the purchaser’s account
  • letter from bank officer with contact information, including phone number for seller to verify purchaser’s funds on deposit (or available line of credit)
  • letter from reputable escrow company confirming it is holding the buyer’s funds in escrow, to be released to the seller if the transaction closes

We can assist you in preparing the Letter of Intent or Letter of Interest (the “LOI”) and Proof of Funds (the “POF”).

The LOI is signed by the purchaser or the purchaser’s attorney and is usually on the purchaser’s letterhead.

The POF can be signed by either the purchaser, or the purchaser’s financial institution that can confirm the funds on deposit or available line of credit. The POF must disclose the financial institution where the funds are on deposit, and provide a name and telephone number for verification of the funds. The funds remain with the buyer’s financial institution until the closing of title. Only if the properties offered comply with the buyer’s requirements as stated in the LOI, and satisfy the purchaser’s due diligence review, is the buyer expected to complete the transaction.

The LOI & POF should usually be addressed to “Seller of Record”. This will give us the flexibility to place the order with those sellers offering properties that most closely match the types and descriptions of properties listed in the investors’ LOI.

PLEASE “PLAY BY THE RULES”

We respect your privacy and integrity, and understand your reluctance to deal with sellers who dictate the rules. We also respect the bank’s right to insist that all buyers submit the required documents before any information about the specific REO properties is released. Investors who want to purchase these properties at wholesale prices are required to follow the protocol established by the banks. These are standard banking practices required in the bulk sale of foreclosed real estate and cannot be waived. We adhere to these rules in order to insure that REO deals close properly and to the satisfaction of all involved parties.

Investors who insist on detailed property information prior to providing a LOI or POF may be better served in a secondary market, although the prices will be higher.

Bulk REOs For Serious Investors

FORECLOSED BANK-OWNED REAL ESTATE (REO) FOR SALE IN BULK

Selling prices are substantially below market value.

Current market conditions present a unique opportunity for hedge fund managers & other well qualified cash investors.

Qualified investors can purchase bulk packages of foreclosed properties directly from the banks at significant discounts from market value.

REO packages are available from $20 Million to $5 billion+.

Residential (1 to 4 family houses) or commercial properties.

Build your real estate portfolio at prices well below market value.

Our sources include a number of banks and other financial institutions.

If you are a hedge fund manager, or serious real estate investor with large liquid assets to invest in bulk REO properties, we invite you to contact us.

We are a legitimate source of REO properties.

WE DEAL DIRECTLY WITH PRINCIPLES BULK REO INVESTORS

For maximum efficiency, we prefer to deal directly with the bulk REO investor. Furthermore, our contacts on the seller’s side enable us to deal directly or almost directly with various banks and institutional sellers. Nevertheless, on any particular transaction, there may be several people separating the investor from the seller. This will not hinder the completion of the REO purchase, provided we are given direct access to the buyer.

BROKERS

Attention Brokers: Brokers and intermediaries are protected. Sign NDA  

We seek to avoid broker chains since they are usually cumbersome and the deals are least likely to close. Understandably, if our attempt to contact the investor takes 3 days to complete due to lengthy broker chains, it will be almost impossible to complete a particular transaction.

DISCLAIMER

The information in this website does not constitute an offer to sell any properties. Actual terms of sale are contained in the documents supplied by the sellers. The deep discounts offered to qualified buyers are conditioned upon the purchaser’s compliance with the procedures established by the sellers.

WHAT KINDS OF REO PROPERTIES ARE AVAILABLE FROM BANKS & FINANCIAL INSTITUTIONS?

Bulk REO Properties

The following types of bulk REO properties are being offered for sale, subject to availability:

•Residential Packages: 1 to 4 family houses and/or condominium units

•Commercial Packages: Apartment Buildings (5+ units), Mixed Use Buildings, Office Buildings, Shopping Centers, Retail, Strip Malls, Hotels, etc.

•Performing or Non-performing Mortgage Notes

•Location of Properties: throughout the United States or limited regions, states or cities.

Portfolios of bulk REO properties will be compiled to match your investment objectives as stated in your Letter of Intent.

Distressed Properties from Builders/Developers

In addition to REO properties owned by banks and financial institutions, we also have access to distressed properties from builders and developers. Since these builders and developers need an infusion of cash from bulk sales, most of the distressed sales are being offered at a percentage of the actual value, based upon either appraisals or written Broker Price Opinion letters. These properties have not been foreclosed. Some properties are newly constructed homes, town houses, entire multifamily condominium buildings, or a block of condominium units offered by the builder, developer or sponsor at a fraction of the prices charged to individual buyers. Fees on builder closeouts are usually the same as for REO properties. Required documentation is usually the same as for REO properties

Is There A Fee For Our Services?

When buying inventory from our Firm there is typically never a separate fee “CCG” charges so long as we hold/will hold title prior to the sale. Our fees are made on the difference of what we buy the inventory for and what we sell it for, the same as in most business models. There is, however, a standard fee added to the sales price. This fee includes all sales commissions payable to the buyer’s mandate, seller’s mandate and intermediaries. These fees may be divided among the brokers, agents and intermediaries in accordance with their separate agreements. These are the parties who, working as a cohesive unit, make the entire transaction possible. The total brokers’ fee is usually 3-6%. We receive a portion of the total fee.

The total fee is the same regardless of the number of brokers, agents and intermediaries involved in the particular transaction. This arrangement enables the prospective purchaser to be matched to inventories from various banks that best match the purchaser’s investment criteria.

Partnership Program

We find many times savvy investors recognize the tremendous opportunities available in today’s market however the execution after the acquisition leaves some investors questioning the exit strategies or available options. You can let “CCG” take control of the process while you keep an eye on the bottom line, and the process with our state of the art technology platform. We perform all the work and you provide the funding. Learn more about this opportunity.

BANK OWNED REAL ESTATE CAN BE ACQUIRED BY INVESTORS AT SUBSTANTIAL DISCOUNTS

Properties owned by mortgage lenders as a result of foreclosures are packaged into groups and sold in bundles. They are sold at a stated percentage of their market value, as determined by recent appraisal or written Broker Price Opinion letter. The banks are not selling these properties to retail customers, but rather to qualified real estate investors, investor groups, hedge funds and institutional investors with available liquid assets sufficient to quickly close without mortgage financing.

Investors may be tempted to turn this investment vehicle into an opportunity to turn a quick profit by flipping the properties before the closing of title. This is not permitted.

After the closing of title, however, mortgage financing, resale and other investment and exit strategies are all possible.

Sellers of bulk REOs are banks and financial institutions which need to move large real estate holdings off their balance sheets. These institutional sellers are liquidating large portfolios of foreclosed real estate at deep discounts in order to convert these assets into cash. The sellers are serious and ready to do business. They will only deal with buyers who are of like mind and similar intent. Serious REO investors understand that they must comply with the procedures established by the sellers. In our experience, these qualified investors will close on bulk REO properties.

Please note that the banks and institutional mortgage lenders selling bulk foreclosed real estate will not entertain requests to review lists of available properties before the purchaser signs all required Non-Circumvention Non-Disclosure Agreements, and provides a Letter of Intent and Proof of Funds. Think of this requirement as showing your membership card before being admitted to a private club. Cash may be king, but you still need to prove you are a member. Unfortunately, there are no free tours. Please understand the need for these safeguards. We do not make the rules. The procedures and protocol are established by the banks and other institutional sellers for the protection of all parties.

We cannot deal with investors who will not accept and follow these procedures. In our opinion, the inconvenience of complying with the seller’s protocol is a small sacrifice in relation to the quality and value of the investment opportunities that are offered. We believe that once you provide the required documentation, you will be extremely satisfied with our REO portfolios. We sincerely believe that you will close the first REO package we provide, and you will return regularly for additional bulk real estate investments. Often the banks sell to repeat buyers. If the value was not there, we do not believe that sophisticated real estate investors would return

Is There A Fee For Our Services?

When buying inventory from our Firm there is typically never a separate fee “CCG” charges so long as we hold/will hold title prior to the sale. Our fees are made on the difference of what we buy the inventory for and what we sell it for, the same as in most business models. There is, however, a standard fee added to the sales price. This fee includes all sales commissions payable to the buyer’s mandate, seller’s mandate and intermediaries. These fees may be divided among the brokers, agents and intermediaries in accordance with their separate agreements. These are the parties who, working as a cohesive unit, make the entire transaction possible. The total brokers’ fee is usually 3-6%. We receive a portion of the total fee.

The total fee is the same regardless of the number of brokers, agents and intermediaries involved in the particular transaction. This arrangement enables the prospective purchaser to be matched to inventories from various banks that best match the purchaser’s investment criteria.

Partnership Program

We find many times savvy investors recognize the tremendous opportunities available in today’s market however the execution after the acquisition leaves some investors questioning the exit strategies or available options. You can let “CCG” take control of the process while you keep an eye on the bottom line, and the process with our state of the art technology platform. We perform all the work and you provide the funding. Learn more about this opportunity.

GLOSSARY OF TERMS REGARDING BULK REO PROPERTY LISTINGS:

BPO: Broker Price Opinion Letter This is an informal real estate broker’s statement of the value of the property. The BPO is less detailed than an appraisal.

Due Diligence Period: The time that the buyer requests after reviewing the tape of available properties, in which the purchaser can obtain independent Broker Price Opinion Letters of a random sample of the properties (or all the properties) and to otherwise verify the accuracy of the property information and current values provided by the seller.

LOI: Letter of Intent (or Letter of Interest). It is essentially an order for the desired bulk REO purchase. It includes the following details: property types desired; preferred geographic locations; desired rehabilitation levels; initial order amount; desired price (as percent of market value)+ 3% brokers’ fees, etc.

NCND: Non-Circumvention Non-Disclosure Agreement. This refers to an agreement that protects the parties from damage resulting from unauthorized disclosure of confidential information, as well as loss of earned commissions caused by unethical parties who try to circumvent the parties who made the REO transaction possible.

POF: Proof of Funds stating that the buyer has liquid assets or available line of credit sufficient to cover the amount of the desired transaction.

REO: Real Estate Owned by banks as a result of the banks having foreclosed on non-performing mortgage loans. We facilitate our clients’ investments in bulk foreclosed real estate at wholesale prices. The investor purchases a portfolio of bank owned properties as a package, although title is transferred separately for each property.

Tape: The “tape” refers to the detailed description of the specific portfolio of properties for sale. The tape is available for review by the investor only after submission of the real estate investor’s signed Non-Circumvention Non-Disclosure Agreement, Letter of Intent, Proof of Funds, and any other documents required by the seller of bulk foreclosed real estate.