BULK REO/BANK-OWNED PROPERTY PORTFOLIOS
RE/MAX Bravo handles all aspects of direct purchases and sales of bulk REO/Bank-Owned properties for investors with verifiable cash funds to invest in regional and national property portfolios.
If you are an investor (or a referring party for an investor) seeking to purchase multiple REO properties at 50% or below BPO value before they are released to the resale market, please contact us for details on these direct access transactions. Serious inquiries only.
REQUIREMENTS
Non-Circumvent Non-Disclosure Agreement and Master Fee Agreement
All parties to the bulk REO transactions will be required to sign a Non-Circumvent Non-Disclosure Agreement (“NCND”) as well as a Master Fee Agreement (“MFA”). Establishment of an LLC prior to the execution of required documents is highly recommended.
Letter of Interest/Letter of Intent
Buyers are required to complete a Letter of Intent/Letter of Interest (“LOI”) detailing the preferences of the desired portfolio to include:
- Preferred Price Range
- Preferred Geographic Locations
- Number of Properties Desired
- Desired Condition of Properties (Level of Rehab)
- Disposition Assistance/Exit Strategy
Proof of Funds
Buyers are required to show proof of funds prior to having access to property portfolios. Funds must be verifiable liquid/cash assets. Please note, some entities will require a 5% deposit.
Due Diligence
A due diligence period of 7 to 10 days is allowed prior to purchase. Your due diligence research plan should include BPOs to establish marketable resale values for these purchases.
Settlement/Closing
Settlement or Closing is usually required approximately 14 days after the “take down” period on bulk REO property portfolios
CONTACT US
- Kathy Deal
- 540.226.2916
- kathydeal@verizon.net
- Jane Wallace
- 540.226.3811
- jwallace@remax.net
BPO/LISTING AGENTS
If you are a licensed real estate agent who is interested in completing BPOs and have experience as an REO agent, please e-mail Kevin McGrath at kmcgrath@remax.net
ASSET MANAGERS and COMPILERS
RE/MAX Bravo is currently adding additional asset management companies, compilers, mandates and seller’s representatives to our database. For additional information, please contact Jane Wallace at jwallace@remax.net.