REO PACKAGE PROCEDURES

If you can’t deal with these procedures…  do not waste your time or ours. We are serious and we expect you to be as well.

Buyer will review package and determine if they are interested in seeing more of the package. Most packages are +3%. Meaning 1% Seller Mandate -1% Intermediaries -1% Buyer Mandate

All fees will be paid by buyer. (No exceptions)

Buyer will submit a LOI and a PROOF OF FUNDS (POF) to Kevin & Gail O’Grady who will send it immediately to the seller mandate. At that time Buyer will receive addresses to review the package. Buyer will obtain BPO’s/FMV at their own time and expense.

Buyer has 7-10 days for “due diligence” – However package will not be held for buyer during this time period. Buyer does stand the risk of losing package during a lengthy due diligence process.)

****ALL INTERMEDIARIES SHOULD MAKE SURE CONTRACTS/AGREEMENTS AND MFA’S ARE IN PLACE. THE DAISY CHAIN SUCCESS RATE IS 0% FROM OUR EXPERIENCE**** (YOU CAN CHANGE THAT BY NOT POCKET COUNTING AND RECEIVING AND DELIVERING THE NECESSARY ITEMS IN A TIMELY MATTER)

If buyer is interested, buyer will deposit 15% of total package into Sellers Escrow/Title company (non-negotiable). Buyer should make sure that they are ready to proceed at this time as THIS MONEY IS NON REFUNDABLE

A Purchase Contract will be drawn up at this time between principle buyer and principle Seller.

The remaining portion is fairly simple.

SPECIAL ORDER PROCEDURES:

Buyer will submit a LOI requesting their interest along with a 10% REFUNDABLE Earnest Money Deposit. No custom tapes will be made without this refundable deposit.

Buyer will allow 48-72 hrs to put the package together.

Once package is put together the buyer will receive the package to review. The package may not have all information pertaining to the package but will be furnished asap thereafter. All packages are +3%: 1% sellers mandate, 1% intermediaries, 1% buyers mandate.

BUYER PAYS ALL FEES (NO EXCEPTIONS)

In order to receive the remaining information buyer must provide a POF that will be verified. At that time the remainder of the information will be sent to the buyer for them to proceed with their “due diligence”.  Their due diligence period should be 48-72hrs. The package will not be held for them during this time period.

Packages can be purchased at any time from any of our other buyers.

If the buyer is interested we will draft a Purchase Contract and the 10% deposit will become non-refundable and will be held at Sellers Title/Escrow (NO EXCEPTIONS).  Buyer should make sure they are serious, as the 10% deposit is non-refundable at this stage!

The remaining portion is fairly simple.

Thank you.

Kevin & Gail O’Grady