Bank Owned Source

Buy Bank Owned Properties at Discounted Prices

Agents  Submit your buyer's offer Online

PLEASE READ AND KEEP IN MIND THE FOLLOWING:
  • Most REO properties are handled by Asset Management Companies. 
  • It is usual practice for banks to agree to offers orally.
  • Please be sure to include a pre-qualification letter (from a direct lender) and copy of buyer's deposit check with your offer to purchase.
  • Most Asset Management Companies will use their own contract forms and not C.A.R forms.
  • After submitting your buyer's offer to purchase, please allow 24 to 48 hours for acceptance or counter offer.  Some banks do not look at offers until the property has been on the market for at least 5 days. - Be patient.
  • Most banks will consider closing cost, termite report, NHD, smoke detector installation and water heater bracing.  Make sure to ask the bank a NOT TO EXCEED amount in your initial offer. 
  • In most cases, banks will not pay for any repairs as recommended by a home inspector, buyers home warranties, or termite repairs on properties advertised in "As-Is" condition. 
  • Unless specifically noted, the buyer has the right to cancel the contract and receive their earnes money back if they do so within their contractual time frame. 
  • Asset Management companies will request a shorter than usual due diligence timeframe (7 to 10 days) but will negotiate on this if necessary.
  • All offers are subject to final Investor or Client written approval.
Submit Your Offer

1. Fill out this form

2. Fax the following documents to 805-256-8031

  • Offer ( C.A.R Form)
  • Pre-qualification Letter or proof of funds
  • Earnest Money Deposit (Check should show buyers name)

3. Call Listing Agent if you have questions.

 

Property Address:
Buyer(s) Name:
Deposit Amount:
Offer Price:
Type of Financing:
1st Loan Amount:
2nd Loan Amount:
Down Payment Amount:
Days to Close:
Closing Date::
Buyer Closing Cost Paid by Seller (Not to Exceed):
Termite Inspections (Not to Exceed):
Homeowners Warranty Cost (Not to Exceed):
NHD Fee (Not to Exceed):
Inspect Days:
Offer Terms and Conditions:
Does the Client understand that this property is corporate owned and sold in current condition. No repairs, warranties, disclosures or inspections provided by the seller.  Proof of funds or a prequalification letter must accompany all offers. A special addendum will be made a part of the final contract. Seller reserves the right to negotiate offers in any order regardless of date/time submitted. It may be 24-72 hrs for verbal response from seller. Typical seller's hours are M -F, 9-5.:
  Wells Fargo Home Mortgage Pre-Qual
Co-Broker Firm/Agent:
Contact Number:
Lender Name:
Lender Phone Number:
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