CA Foreclosure Team» CA Foreclosure – Homes for Sale CA

REO vs. Bank Owned Property

Heath Dixon — Thu, 20 Aug 2009 23:11:37 +0000

What is an REO/ Bank Owned Property

REO’s (Real Estate Owned) are also known as Bank Owned Property; these are one in the same. An REO is a property that goes back to the bank after an unsuccessful foreclosure auction. The bank now owns the property and the mortgage loan no longer exists.

Selling an REO/ Bank Owned Property

Time is of the essence for the bank to sell the home and “get it off their books”. They will be looking to get the highest price possible in the shortest period of time. To achieve their objective, banks hire a REO Real Estate broker to handle all aspects as it relates to selling the home (details can be found here).

Buying an REO/ Bank Owned Property

Before making an offer, the selling agent will contact the listing agent to ask the following:

Are there any inspection reports?
What work has the bank agreed to?
Is there a special “as is” form?
How long does it take the bank to accept an offer?
How does your agent deliver the offer?

Offers are usually FAXED to the bank. The listing agent needs your originals. There is no formal presentation. Keep in mind: nothing happens evenings and weekends (banks are closed)

Since there is no face-to-face presentation to the bank, provide the listing agent with a pre-qualification or better yet, a pre-approval letter and buyer biography. Make your offer easy to accept.

REO Solutions

Heath Dixon — Thu, 20 Aug 2009 06:31:55 +0000

If you are looking for a seamless way to liquidate your assets we will simplify the process for you.

We handle all aspects of the REO transaction, from acquisition to close of escrow:

Determine occupancy within 24 hours, usually same day

Initial property inspection, with pictures.

Re-key

BPO’s interior or exterior/ normal or rush

Secure property, within hours.

Cash for keys or Eviction assistance

Trash out

Direct payment to vendors/utilities companies/contractors

Ongoing property preservation including lawn maintenance, pool maintenance, winterization, etc. to keep the home marketable like conventional listings

FULL SERVICE Sales and Marketing which includes:

Professional signage with 800# riders giving buyers 24 hour access to information on the property

Maximum internet exposure

Online Offer Instructions and Property Status

Internet Exposure includes:

Featured Listing on Realtor.com

Trulia, Backpage, Oodle, Vast and Zillow postings

REOTrans.com posting

OneWorldEstates.com

We are a member of all major REO web portals and to the following associations: BEAOR, VVAOR, MetroList, Santa Clara County Association of Realtors, California Association of Realtors and National Association of Realtors

We are offering a complete REO solution; everything you would expect if you were selling your own home. We are committed to fulfilling our needs with highest level of professionalism and expertise. Experience the managing, marketing and selling of your REO properties the right way.

For more information or to
request a resume Contact Heath Dixon:
(408) 757-4632
heath@CAForeclosureTeam.com

CA Foreclosure Team – One World Estates

Heath Dixon — Tue, 18 Aug 2009 23:52:54 +0000

One World Estates is a premier provider of full-service real estate solutions. We have a well trained team of 35 real estate agents in California. With over 19 years experience, the broker Heath Dixon understands the importance of providing clients with utmost integrity, professionalism and courtesy. We realize that people do business with people they trust. We are interested in what is best for you, the client.

Though our real estate agents are based throughout California our headquarters is located in Santa Clara; the heart of Silicon Valley.

We are committed to establishing a long-term relationship based on trust.