Re: Who Buys Non-Performing Notes and REO’s? - Posted by Jason J Perlman
Posted by Jason J Perlman on July 15, 2010 at 12:39:18:
MFA to Follow./REO’s to follow from same source 1B 55% all Cal. Must complete this , First.
LOI form to follow.
Need LOI POF INFO ASAP THIS MORN IF POSS. PRODUCT AVAIL. PLEASE REPLY. HAVE NPN’s at .30 - .38 and reos at 50-55. NPNS ARE CA…LOI MADE OUT TO “bank of record” and REOS are from Deutsche bank and LOI NEEDS TO BE MADE OUT TO THEM. TALK SOON…thx!
Buyer?s Company Name
Address
DATE
To:
Re: Type of asset required.
This letter sets forth the basic business terms on which Company name /Principles name located in Located where, acting as trustee for, would be willing to purchase the above referenced property.
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Property: California Properties
Warranty Deeds/Grant Deeds
(SFD, Zero to light rehab) -
Purchase Price range from what to what to be determined during due diligence period.
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Financing: Cash only. No other financing contingencies. Proof of Funds
to be provided to Who. -
Closing Terms: Purchaser shall pay the costs customarily borne by buyers in
the State of ? ECT. Ect. in connection with real estate closing of this type. -
Deposit: To be determined.
-
Escrow & Title Company:
Title Co -
Due Diligence: 10 days of acceptance of offer
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Closing: Closing to be 21-30 days after opening of escrow or sooner by mutual agreement.
30 day buy-back clause to be incorporated in contract. -
Commission: Under separate agreement - not part of contract between buyer and seller.
-
All pricing, terms and conditions are negotiable and will be referenced in contract. Pricing is
determined by location and condition of property.
Agreed and Accepted by Buyer:
Company Name/Principles Name
EXHIBIT A
May 17, 2010
Acquisition Price: $10,000,000. Take down Plus (+) 4% Fees
Geographic Locations: California
Type: Property type
Condition: Zero to light rehab
Current Property Value: $100,000.- $300,000.
Number of tapes desired: 1
Exit Strategy: Buy to hold/lease and buy to resale
Typical Holding period: 1 year +
Where do funds wire from: Domestic USA
Can you provide POF?: Yes
Agreed and Accepted by Buyer:
Buyer?s Rep:
Clay Shaw