Sellers
Purchase Bulk REO is the premier facility for an open dynamic bidding exchange as a viable sales exit strategy for your real estate assets. Our auction facility significantly maximizes your proceeds while expediting assets off your balance sheet. Your assets may include, but not limited too REO’s(Bank Owned Properties) and notes. These assets will be listed for sale in bulk bundles. Our Online Auction environment enhances the sale of these assets which benefits you with competitive bids and timely closings. To protect the integrity and auction process of this site it is limited to pre-screened and pre-qualified direct sellers and buyers only.
Seller Benefits:
- No cost to seller
- All bidders are pre-screened and rated for financial capacity
- Winning bidder pays a transaction service fee on the bid amount upon opening escrow of:
- 2% of the purchase price
- Ability to set reserve requirement
- No obligation to complete transaction if qualified winning bid doesn’t meet your reserve amount
- Sellers may utilize the site to provide exposure for their real estate assets
- Direct Sellers or Direct Authorized Agents of Sellers only
- No “Daisy Chains” allowed
- Easy listing of REO assets
- Live online bid tracking
- Option to receive email alerts
- Access to your current and past transactions
- Anonymous bidding to insure privacy
- Access to a wide range of pre-screened qualified buyers
- Competitive bids for maximum proceeds
- Expedited closings
- Increased liquidity
Qualified Winning Bid:
- Bidder executes contract by depositing 10% of the winning bid plus our service fee in an escrow account within 48 hours after auction closes.
- Winning bidder usually has (5-10) days to do their due diligence after auction closes.
- After due diligence period winning bidder has 72 hours to finalize contract and fulfill its obligations.