[richhudreos]

Thanks, I don't want to violate the rules on the forum here.
Rich

[Tdinoz]

http://www.talkgold.com/forum/f14-.html

[meeraco]

wat is Bukk REo's?

[richhudreos]

Bulk REOs are HUD Titled, in my case, repossesed real estate in bulk, $5,000,000.00 minimum investmnent.


HUD REOs and NPNs
Residential – Commercial – Industrial
Portfolio Price Range: 25-60 cents of Current Market Value

Overview
The U.S. government’s bailout of banks across the nation and the record numbers of foreclosures occurring each month across the country has created trillions of dollars of REO’s. The U.S. government is liquidating unprecedented volumes of U.S. REOs it has accumulated through HUD, Fannie Mae, Freddie Mac, the FDIC, and several National Banks. HUD is our direct source for REOs from all these government agencies. These REOs are comprised of residential, commercial properties and non-performing notes.

Our Non-Profit Agency has been certified through the U.S. Department of Treasury since 2004 and was authorized in 2009 to directly liquidate the HUD REOs into the private sector. This special appointment was given because of our work in Southwest Louisiana, specifically the Katrina Disaster area. In an effort to help us raise funds to invest into the Katrina Project, these government agencies are allowing us to sell these REOs at a fixed discounted price directly to investors. In turn, HUD requires us to reinvest 85 basis points from each sale into the Katrina Project for housing and other disaster relief needs.

The opportunity for buyers and/or investors to acquire these REOs and NPN portfolios at an unprecedented price point in U.S. history is what makes these REOs purchases especially attractive. These REOs are being liquidated at 25-60 cents on the dollar based on current market appraised value, property condition, and geographic location. For example, if a HUD REO home was appraised at $300,000 in 2007 and the current market appraised value is $200,000, and was sold in HUD REO portfolio for 45 cents on the dollar, this would mean an investor you would have paid only $90,000 for this home.

Below are a few of the investor requirements for purchasing these HUD REOs:
• ELIGIBLE BUYERS: Any private investor, investor group, or company from the U.S. or Foreign country. All purchases are in U.S. dollars.

• MINIMUM PURCHASE AMOUNT: $5 Million dollars. REO prices are fixed and there is no bidding. Will accept purchases over $1 Billion dollars. Buyer to provide soft Proof of Funds (POF) when making a request. Once funds are verified, the requested REO tape will be sent to the Buyer.

• REO TYPES AVAILABLE: Residential homes, Commercial Buildings, Retail properties, and Industrial properties. These properties are vacant and not listed in a MLS. You can customize your REO orders to what you are seeking to buy, such as: property condition (i.e. zero rehab, light rehab, distressed, or a combination thereof), geographically by state, county, zip code, or by price point like 40 cents on the dollar, etc. Prices vary by property types and geographic locations.

• DUE DILIGENCE PERIOD: 15 days because the properties are suspended exclusively for the buyer.

• TITLE TO PROPERTIES: All properties are clear titled showing HUD as the owner.

• 30-DAY ESCAPE CLAUSE: If you buy a portfolio from HUD, Fannie Mae, or Freddie Mac and there is a property in the portfolio that did not reasonably match the criteria you requested, then you have up to 30 days from the closing of your portfolio to notify the Seller and have that property replaced.

• ESCROW: You can set up escrow with a bank of your choice. Must be one of the 25 National banks or National Title / Escrow Company.

• REO PROPERTY VALUES: Properties have been HUD appraised within the last 90 days and represent current market values. The REO tapes will include property address and condition by category. If Buyer insists, they may receive a paragraph description of the property from the appraisal if available.

[getmoneygettmoney]

I'm not sure