The PerDare Group has been able to get access to up to 8B in REO's direct from the seller; starting at 33+3 for a 1B nationwide package. For those customers with smaller budgets; the seller will fill any order at 5MM and above with pricing below average. Everything is light to ZERO rehab. For any buys above 250MM we can get the seller on the phone with an LOI and SPOF; for anything below that we can have the seller's authorized mandate available to speak to the buyer.
Protocol follows: Letter of Intent (LOI) and Proof of Funds (POF) Required.
- Call is made to confirm receipt of LOI and arrange for Seller attorney to "hard proof" Buyer's funds
- Upon proof-up, entire detail tape is released to buyer for 24-48 hours exclusively (time depends upon size of portfolio)
- After initial review period, Buyer must deposit 10% into escrow to hold tape for additional 72 hours while due diligence is completed
- At the end of 72 hours Buyer enters into contract or declines the portfolio and earnest money is refunded
- Closing is expected to occur in 7 days, as title work is complete and warranty is offered
- 45-day "buy back" warranty covers title, condition and valuation of properties
- No more than 2 intermediaries are recognized by seller, and they should both be named on the LOI - all other intermediaries need to go under Sub-Fee Agreement which can be paid out to a paymaster and distributed accordingly.
This is as direct and close that you will be able to get to a real seller; don't miss out on this opportunity. It's real and the inventory will not last long. If you have any other questions, please email me at info@perdare.com or call direct (702) 818-1126.
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