This document was prepared to be an informative guide when writing an offer on a "Bank Owned" or Corporate owned property, (Otherwise known as an REO). It is not intended to be a binding agreement. The information contained herein is designed to create an informed consumer and to lessen the stress of the home buying process for the Purchaser, Buyer's Agent, and Listing Agent. Please review these items with your buyer prior to offer submission. All your questions should be answered within this document. Please read it carefully before contacting us with more questions.

WE WANT YOU TO GET YOUR OFFER ACCEPTED! PLEASE FOLLOW THESE GUIDELINES TO HAVE THE BEST CHANCE AT GETTIING YOUR OFFER ACCEPTED THE FIRST TIME.

The REO process is much different than a typical retail sale. The seller calls all the shots and we go along with it to make for a successful close. Some terms may be deleted from the usual contract and some terms may be added that you may not be familiar with. Please understand this. We cannot change the process, nor do we complain about it. I am the Sellers agent, but I do not have any power or say as to what the terms are. I have no negotiating power or influence. I am simply a conduit between seller and buyers agent.

PLEASE, PLEASE, PLEASE do not cause this sale to be extended. Close of escrow date is extremely important to banks and typically a financial penalty is imposed upon the buyer and buyer's agent if the escrow does not close on time. It is imperative that you stay on top of all inspections, appraisals, contingency removals, and the lender to get duties performed in a timely manner.

THIS SALE IS DIFFERENT IN THAT THE SELLER IS A MULTI BILLION DOLLAR LENDER. THEY LIKELY WILL NOT NEGOTIATE AFTER THE RATIFICATION OF OFFER. NEGOTIATE ALL TERMS PRIOR TO RATIFICATION TO MINIMIZE PROBLEMS DURING ESCROW. BANKS DO NOT APPRECIATE NON SERIOUS BUYERS. PLEASE BE ABSOLUTELYSURE YOU ARE READY AND WILLING TO GO THROUGH WITH THIS PURCHASE. WE ARE NOT INTERESTED IN LOOKING AT LOW BALL OFFERS OR BUYERS ATTEMPTING UNLAWFUL OR "SHADY" DEALS. THEY MUST BE QUALIFIED FOR ANY BORROWED FUNDS OR HAVE THE FINANCIAL ABILITY TO PAY CASH. THEY MUST BE MADE AWARE OF THE REO PROCESS. DO NOT PRESENT OFFERS WITH THE INTENTION OF RENEGOTIATING LATER. YOU SHOULD BRING YOUR HIGHEST AND BEST OFFER THE FIRST TIME. ALL PARTIES INVOLVED ARE EXPECTING TO CLOSE EVERY OFFER THAT IS RATIFIED. PLEASE BE SURE THAT YOU ARE PREAPPROVED FOR FINANCING PRIOR TO SUBMITIING AN OFFER. DO NOT CHANGE LENDERS, LOAN TERMS OR PROGRAMS WHILE IN ESCROW.