Comments on: The REO Conspiracy: What Happens When the Banks Own Everything? http://notequeen.com/2008/06/11/the-reo-conspiracy-what-happens-when-the-banks-own-everything/ Find seller financed properties, owner will carry, carry paper, benefits of owner financing, defer capital gains, what is my note worth, sell my note for cash, land trusts, avoid short sale or foreclosure; Pasadena, Temple City, Alhambra, San Gabriel, Arcadia, Sierra Madre, El Monte, Rosemead, San Marino. Sell my note for cash Thu, 4 Dec 2008 04:23:20 +0000 http://wordpress.org/?v=2.3 By: Dawn Rickabaugh http://notequeen.com/2008/06/11/the-reo-conspiracy-what-happens-when-the-banks-own-everything/#comment-395 Dawn Rickabaugh Thu, 12 Jun 2008 19:55:18 +0000 http://notequeen.com/2008/06/11/the-reo-conspiracy-what-happens-when-the-banks-own-everything/#comment-395 Alan, Thank you for adding to and flushing out the issue. You and your company are certainly a very powerful resource for current and prospective note holders. Alan,
Thank you for adding to and flushing out the issue. You and your company are certainly a very powerful resource for current and prospective note holders.

]]> By: Alan Bardwell http://notequeen.com/2008/06/11/the-reo-conspiracy-what-happens-when-the-banks-own-everything/#comment-393 Alan Bardwell Thu, 12 Jun 2008 17:57:31 +0000 http://notequeen.com/2008/06/11/the-reo-conspiracy-what-happens-when-the-banks-own-everything/#comment-393 This situation is not uncommon when someone lacks liquid funds to fix up a property. Many homeowners wishing to sell often take steep discounts when their homes have not been modernized. Institutional Lenders prefer “AS IS” appraisals with minimal cost to cure. “SUBJECT TO” appraisals have no chance as a funding strategy. The fix-up expenses of $15-20 thousand are beyond the life savings of many people. Some homeowners are lucky that shag carpet is making a come back, although avocado green refrigerators in a 70's style kitchen still won't cut it. Realtors now have resorted to playing match makers for some sellers, linking them with family, distant relatives, or friends to borrow the funds needed to update their home and get maximum sale price. Then those same sellers now enter a buyers market, knowing that “market” offers are hard to come by, especially when so many homes are REO and selling at discounted values. So the ability to sell for close to market price by offering owner-financing, even if you have to hold a note for 5 months (or 5 years), is an opportunity to consider for the benefit all parties. My company handles the application and screens the owner-financed buyer for identity and credit problems. We give the seller the information, the seller makes the lending decision. You don’t have to be as strict as a bank, but you do need to be careful not to make a bad loan. We also take care of structuring the note so it’s worth more on the open market, should you ever want to sell the note. This situation is not uncommon when someone lacks liquid funds to fix up a property. Many homeowners wishing to sell often take steep discounts when their homes have not been modernized.
Institutional Lenders prefer “AS IS” appraisals with minimal cost to cure. “SUBJECT TO” appraisals have no chance as a funding strategy.
The fix-up expenses of $15-20 thousand are beyond the life savings of many people. Some homeowners are lucky that shag carpet is making a come back, although avocado green refrigerators in a 70’s style kitchen still won’t cut it.
Realtors now have resorted to playing match makers for some sellers, linking them with family, distant relatives, or friends to borrow the funds needed to update their home and get maximum sale price.
Then those same sellers now enter a buyers market, knowing that “market” offers are hard to come by, especially when so many homes are REO and selling at discounted values.
So the ability to sell for close to market price by offering owner-financing, even if you have to hold a note for 5 months (or 5 years), is an opportunity to consider for the benefit all parties.

My company handles the application and screens the owner-financed buyer for identity and credit problems. We give the seller the information, the seller makes the lending decision. You don’t have to be as strict as a bank, but you do need to be careful not to make a bad loan. We also take care of structuring the note so it’s worth more on the open market, should you ever want to sell the note.

]]> By: The REO Conspiracy: What Happens When the Banks Own Everything? · Real-Estate101.ExplainedOnline.Net http://notequeen.com/2008/06/11/the-reo-conspiracy-what-happens-when-the-banks-own-everything/#comment-388 The REO Conspiracy: What Happens When the Banks Own Everything? · Real-Estate101.ExplainedOnline.Net Wed, 11 Jun 2008 23:45:56 +0000 http://notequeen.com/2008/06/11/the-reo-conspiracy-what-happens-when-the-banks-own-everything/#comment-388 [...] Original post by Pasadena Note Queen | Seller Financing | We Buy Notes | Real Estate [...] […] Original post by Pasadena Note Queen | Seller Financing | We Buy Notes | Real Estate […]

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