An REO property is bank owned property. Because the bank has never occupied the home, it will be sold as-is and without Seller's Disclosure. Selling as-is does not necessarily mean the property is in poor condition. Even if the home is in perfect condition, has been repaired, or is in poor condition, it will still be sold as-is. It will be your client's responsibility to inspect the home and make their own determination. During the winter, properties will be winterized. This means there is no immediate access to water, including toilets, sinks, water heater, etc. If your inspector de-winterizes the property, it will be your buyers responsibility to have the home re-winterized. We will gladly help you with the arrangements. Most REO commissions are paid on "NET SALES", this typically means the gross purchase price, minus any requested seller paid closing costs, etc. . This is NET. Typically, most REO companies will charge a "per-diem" (per day) fee, should your client not close in the agreed time. This will not be waived. It is suggested you keep in close communication with your buyer, their mortgage lender and myself, so to prevent a glitch. Typically, if your client does not meet the projected close date or fails to close at all, earnest funds will be taken. |
gahomefinders.com
| REO CONTRACTS/ INSTRUCTIONS |
*First Multiple Listing
Service (FMLS)
*Multiple Listing
Service (MLS)
*Northeast Atlanta
Metro Association of
Realtors
* Board of Realtors
*Most REO Networks/
Management
Companies
(call or write for the
list)
Service (FMLS)
*Multiple Listing
Service (MLS)
*Northeast Atlanta
Metro Association of
Realtors
* Board of Realtors
*Most REO Networks/
Management
Companies
(call or write for the
list)
 | |  |
REALTY PROFESSIONALS, INC.
Specialized Realty, Inc.
Specialized Realty, Inc.
CONDITIONS OF SALE
Affiliations
Rusty Warner,
Realty Professionals
Specialized Realty
Realty Professionals
Specialized Realty
This website is published for informational purposes. Every effort is made to ensure the accuracy of information contained within; however, no warranty of accuracy is made. Please verify all items independently. Gahomefinders.com links to other websites outside our domain. These links are provided as a convenience and do not constitute an endorsement. Gahomefinders.com exercises no control over, and assumes no responsibility for, information that resides on outside websites. |
rustywarner@msn.com
CONTRACT OF SALE
| Please use a standard G.A.R. Purchase and Sale Agreement when presenting your offer. There will be Bank Addendum's to be signed by your client but in most cases, these will not be required until your offer is accepted, and will be part of the Acceptance Package. No alterations to the bank addendum will be accepted. All required Addendum's will need to be signed and returned within 24 hours. When you are ready to send your Offer, please fax the following to my office, 678-353-6584 OR rustywarner@msn.com PLEASE INCLUDE 1. G.A.R. “PURCHASE & SALE” Closing Attorney is normally determined by the Seller. Earnest funds may be held by your Broker. 2. Financed- Loan Pre-approval Letter Cash- Proof of Funds 3. Copy of the earnest money check. Remember, a bank determines the approval of an offer based on Net to Seller (offer price minus buyer requested closing costs, etc.) Special Stipulations and Special Monetary Requests are generally not accepted. A complete package will ensure your offer is presented, timely. RESPONSE TIME Different level approvals may be necessary before a response to your offer is received. Therefore, it could take 7 working days or more for us to get back to you. In most cases, our response time will be much sooner. We will contact you within the same business day. Realty Professionals,Inc., represents the Bank in all aspects regarding this property. Rusty Warner 678-353-6583 PHONE 678-353-6584 FAX 3746 Chamblee Tucker Road Atlanta, GA 30341 |
