How To Acquire Bulk REO Portfolios
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What Is An REO
Real estate owned or REO is a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. Real Estate Owned Properties are properties that either were not sold at auction or were properties that the bank or lender accepted the deed of trust in lieu of foreclosing on the home.
Bank Owned foreclosures and real estate auctions offer great deals on distressed properties throughout the United States and beyond. However, banks are in the business of lending, not in owning homes so banks want to get rid of these properties so they sell them as REO Homes at very deep discounts.
Bank Owned foreclosures and real estate auctions offer great deals on distressed properties throughout the United States and beyond. However, banks are in the business of lending, not in owning homes so banks want to get rid of these properties so they sell them as REO Homes at very deep discounts.
Upperhouse Enterprises
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We specialize in acquiring Bulk REO Portfolios, apartment building loans, loan modifications and stopping foreclosures. If you want your property back free and clear we are here to help you with all of your business Real Estate transactions.
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Your Bulk REO Portflio Package
Bulk Reo Portfolios
A knowledgeable REO Portfolio Acquisition Specialist will guide you through the maze of acquiring your Bulk REO Property Acquisitions. Most Bulk REO Portfolio packages can usually be acquired for as low as 29 cents on the dollar.Once you have provided the appropriate documents, the REO Portfolio Acquisition Specialist can have a tailored Bulk REO package in front of you within 48-72 hours from the receipt, and verification review of the required documents.
The required documents usually consist of a Letter Of Intent (LOI) from you, the buyer/investor, Proof Of Funds (POF) to acquire the real estate portfolio, and a Master Fee Agreement for final acquisition.
Once documentation, and proof of funds (POF) have been verified, the Master Fee Agreement (MFA) will be drafted for signature by the buyer/investor. The REO Portfolio Acquisition Specialist fee for services is usually approximately 3% of the acquisition price of the REO Portfolio.
Once the REO Portfolio Acquisition Specialist has received the signed MFA, the buyer/investor request will be submitted directly to the bank. The bank will compile, and prepare the requested REO Portfolio Tape for delivery directly to the buyer/investor within 72 hrs.
Once the REO Portfolio Tape is delivered, the buyer/investor will decide which properties he/she is interested in acquiring, and be put in direct contact with the issuing bank for final negotiation of the portfolio acquisition. The REO Portfolio Acquisition Specialist will require direct access to the buyer/investor prior to delivery of the REO Portfolio Tape, as opposed to an agent of the buyer/investor.
It is a surprisingly simple process when you have an experienced REO Portfolio Acquisition Specialist to assist you with your acquisitions.
This is one of the best times in the history of America to take advantage of the foreclosure real estate market. The banks are overloaded with toxic loans that they need to unload, and you are doing them a favor with your real estate acquisition. So take full advantage of this once in a lifetime opportunity to create your wealth, and financial freedom. Talk to your REO Portfolio Acquisition Specialist today!
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Upperhouse Enterprises has been doing business in the Los Angeles area for over 15 years. We specialize in various Real Estate business transactions.... more »
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