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