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Bulk REO Portfolios
- By Zitrof Real Estate
- Published 07/28/2008
- Real Estate
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Zitrof Real Estate
Zitrof strives to be a Real Estate website like no other! We have many Free sections and Databases to include:
Bank Owned Properties, For Sale by Owner, Rental Homes, Wholesale Properties. We also have a our Real Estate Articles, and a Real Estate Forum for your education and discussions.
Bulk REO portfolios are bundles of properties from banks or Developer. On either case these properties are sold at discount prices to facilitate a quick sale and liquidate the properties.
When lenders have an increased amount of properties and need to liquidate, they sell these properties in REO portfolios. Generally these properties are sold at considerable discount to the buyer, in exchange for a quick sale. The buyer, then
Bulk Real Estate Portfolios and Builder buy outs are another great investment opportunity. Some can be purchased as low as 40c - 60c on the dollar. Making this a great Real Estate Investment opportunity.
Bulk
Builder buy out are bulk portfolios of properties that the builder has not yet been able to sell for any reason. Many time builders get into a project, construct the properties and then run out of funds to hold the construction loans. These are prime for an investors to purchase, and complete the sales.
These REO packages can be great investments. You buy several homes at pennies on the dollar, then sell them of individually by listing them at http://www.zitrof-wholesaleproperties.com for free, and turn a profit.
Many real buyers have been yanked around by middlemen offering Bulk REO deals. If you are going to post a comment below, please be direct to the seller or buyer.
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5 Responses to "Bulk REO Portfolios"
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said this on 10 Dec 2008 10:53:06 AM MST
Your description is pretty accurate, however 10 – 35 cents on the dollar is realistic for nationwide tapes in this market.
I work for a Clearing Company (Seller) of Bulk REO properties, and we see prices that low every day. Please read the details on my site at www.BulkREOTape.com
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said this on 19 Feb 2009 10:25:01 PM MST
So true! There are incredible deals that can be obtained out here. I currently represent a couple of private buyers/sellers. We have come across deals as low as 28 cents on a dollar. I have a great relationship with a major institution and the deals have been flowing.
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said this on 07 Mar 2009 7:08:34 AM MST
are you still looking for bulk reo?
I am direct to bank trusts that can get custom bulk reo packages for you in any size. 5M-200B. These packages come from fannie and freddie mac and 10 other major institutions.
we have a pretty simple protocol.
PROTOCOL
PAPERWORK
1) Return OUR NDNC, signed by involved parties –Buyers/Buyers Mandate/Representative—this does not need to be notarize.
2) Submit LOI and MFA—must be notarized or witnessed by an attorney. On the LOI this is the REO Patriot Act Document of Authentication page.
PROCESS
1) William will call the contact on the LOI to verify the correct person (the banker/attorney/title co/buyers mandate ) for soft POF- NO ACCOUNT #’s, just name of the institution- to verify the correct contact info and confirm the buying person/group can perform. If Yes, goto #2. If no, William will notify the person/group who brought in the deal to clarify the situation. If no clarity, the submission is dead.
2) Our Groups’ Attorney will speak to the buyer’s attorney or title company for hard POF. Once completed, the order is submitted.
3) The Trust will send an email* before releasing the tape requesting hard POF and availability of funds. When buyer complies, the customized tape is sent.
4) Buyer is now in direct contact with the Trust/entity; they perform due diligence, and close.
Depending on how fast the 1st Attorney to Attorney Hard POF takes; Most packages close within 5 to 10 days.
*Here is what the Trust wants for Proof of Funds:: These same instructions come in the email from the Trust before they release the tape. Comply and the tape is yours.
1. Banking or known financial institution as source to proof funds. They prefer that it not be a title company. If it is we need a copy of the wire transfer.
2. The signatory on the account needs to match name of the principal on the LOI and Fee Agreement. The funds need to be readily available.
3. The buyer should include the contact information for the person(s) that may be contacted for proofing. The contact person(s) should be notified who is authorized to procure the information and be available during regular business hours.
Please let me know if i can help.
armandowilliams.business@gmail.com
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said this on 31 Jul 2009 6:09:07 AM MST
The information you given on real estate is very helpful for the conscious people and it helps to communicate between the same thinking of choice. Also to have best output of it we need some management between the community for being benefited not only financially but also mentally. Because like Online Lottery rip off is growing day by day.
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