Archive for the 'REO' Category

Searching for Distressed Properties on MRIS

Tuesday, October 28th, 2008

distressed property.jpgThis is the BEST time to work with investors.  I STRONGLY suggest that you pre-approve them and understand exactly what they can afford previous to working with them.  Once you have done that then you should start looking for properties for them.  Many agents who have come to my workshops have been confused about how to search for distressed properties.  The following are 4 areas in the MRIS form that you can use to search for distressed properties:
1)    In the disclosure field there is one that says “Subject to a Potential Short Sale”
2)    Remarks may state “Short Sale”
3)    Disclosure pick list must say “Potential Short Sale”
4)    In the “Current Financing/Loan Information” the following are possible options: REO Property, Foreclosure, HUD Owned, Pre-Foreclosure

P.S. In the same form I would also either select specific zip codes or cities. (more…)

Broker Price Opinion (Part 2)

Friday, October 24th, 2008

BPO Bank List v21.jpgSo I have received the emails.  You all want me to give you all of the companies that you can do BPOs for, not just the top ones which I stated in the last posting.  I know you are going to love me.  The following is a ton of BPO companies:
https://www.w-mgroup.com/Internal/Vendor/AddVendor.aspx

http://www.mgic.com/rev/signup/appraiser.html

http://www.assetval.com/

https://www.bpodirect.com/

http://brokerpriceopinion.com/content/contact.aspx

http://www.clearcapital.com/ (more…)