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CRF Property Locators, LLC
CRF Bulk REO Services
Welcome to CRF – your source for the best deals on Bulk REOs.
We can arrange sales from $1 mil - $1B increments! (even higher in some cases) CRF Property Locators, LLC arranges the Buying and Selling of REO packages for clients. Our Acquisition Manager bring our clients directly to the REO provider that may be the best match for what their needs are. We sell bulk REO Bank-Owned properties and have small to large portfolios available. Knowing where to find bulk REO properties puts you in a position to take advantage of great discounts on bank-owned real estate that will almost certainly increase in value over time. There are several reasons this information is not readily available to the general public. One reason is that the lenders who are interested in selling bulk REO packages prefer to work through established channels with representatives who understand their protocols. Every lender has a slightly different procedure. In turn, the representatives have a vetting process for the bulk REO buyers they choose to work with. It's a seller's market in the bulk foreclosures arena and the reps can get extremely busy. It is also important to understand that there is not a list, per se, of bulk REO properties that you can wade through and pick and choose what you like. Instead, a custom bulk REO package is prepared for your review. This happens after you complete the initial paperwork and provide proof of funds to the lender, bank, or institution holding the properties. Our full-service real estate team is ready to help you with your investment property needs. CRF is your source for the best deals on residential and commercial foreclosures (REOs) nationwide. Our properties are priced to sell fast, and our full service, in-house team of real estate experts takes the stress out of buying one or multiple properties. Our mission is to return distressed REO properties to productive use. We bring together sellers and qualified buyers for the purpose of buying these portfolios. We primarily work with banks and financial institutions. All buyers must have liquid funds to invest. We want to represent you -- lenders, builders, asset managers, complilers, clearing house, bankruptcy trustees, debtors-in-possession, investment clubs, autioneers, court receivers, trustees, real estate brokers and investors. Currently, our Acquisition Team is supplying buyers with product because the banks have great discounts. These assets now become non-performing assets and they are not in the business of losing money. They need to sell these assets quickly at a discount. Prices change weekly depending on a number of factors, but supply and demand along with the seller's motivation remains number one. We strongly recommend that you do not delay your bulk purchase. In some parts of the country, the bulk REO packages are as low as 30 - 60 cents on the dollar. Our Bulk REO Sellers Network connects real Buyers with real sellers of bulk reo packages and non-performing notes. We work with many Banks, Asset Companies, Hedge Funds, and other financial institutions in order to obtain Bulk REO inventory to meet our client's needs. I understand your frustration with the banks taking so long to get tapes to your buyers. The banks process the tapes as fast as they can but there is alot of orders they get daily and there is not alot of people there to fulfill them so there is only a couple of people doing all the orders. The buyer needs to understand that you have no control in this situation that it is in the banks hands and not ours. The bank understands the buyer is wanting the tapes as fast as possible and they do proceed in order as fast as they can, but the buyer needs to be patient and understand everyone is working hard to prepare there tape to their Letter of Intent request. We want to represent you -- lenders, builders, asset managers, complilers, clearing house, bankruptcy trustees, debtors-in-possession, investment clubs, autioneers, court receivers, trustees, real estate brokers and investors. Aggressive discounts in this turbulent financial marketplace are achieved by Buying REO or Non-Performing Notes (NPN) or Performing Notes (PN) in bulk from the financial institution will achieve the greatest discounts available in the marketplace. My sources for Nationwide for SFR REO/NPN's, Commercial REO/NPN's & REO Hotels/NPN's - from .35 to .65 for SFR and .20 - .55 for notes - but always under 65% but some are very very low prices - varies by states - Source 1 Min $1M and up Source 2 Min $10M and up Source 3 Min $20M - $100M Source 4 Min $100M - $1T I can get get you some fresh new tapes for your requests - I do not shop LOIs - I only give them to my source - Please start submitting your request - Download Banks Documents Here - All requests must follow a lender approved process and must be reviewed several times to ensure all your documents are complete. We are in the business for the long term and not for one deal. This means we strive to provide the best products and service to our banks and clients to ensure your future referrals. Our 4 easy protocal steps - The process the bank follows: 1. The Bank NCND needs to be signed by the buyer and send an LOI with a Soft POF either a escrow name or attorney name and stating the specific properties or notes they want to buy and to amount they wish to purchase. 2. The bank prepares the tapes to order and then forward the Investor product for review within 5 days of completed paperwork. 3. The buyer has up to 5 days to review tape. After which the buyer is required to make a 10% deposit in Escrow with the Title Company. The deposit will be credited to the purchase price at closing. 4. The Due Diligence period is a minimum of 5-10 days. After which escrow closes.The Day prior to closing, the buyer wires the remaining funds necessary to close into the Title company's escrow account. Instructions are in writing on how the money is to be spent purchase price, closing costs, commissions, taxes, etc. (Wire transfers for all Commissions will occur within 24 hours of the Closing). I hope this helps you to understand the banks procedures and make it easier for you. In addition, we can provide valuation services and cash-flow, exit strategies for your purchases. For portfolio managers, we can provide quick closings on portfolios. New or Existing tapes information provided after completion of non-disclosure agreement & LOI with SPOF. You can make the LOI out to: Seller of Record c/o CRF Property Locators, LLC Please submit LOIs to loi@crfpropertylocators.com or fax to 720-223-6097. I am here to fulfill all your orders, Keep them coming. I look forward to working with you.
Our team works at the highest level of integrity and confidentiality.
We Love Referrals - * If you refer someone to us and they proceed with us you will receive a referral fee at closing. All Brokers, Investors, Realtors, Mortgage, IMs and etc are protected.
CRF has a zero tolerance fraud policy.
REO - Real Estate Owned properties provide many opportunities for investors. REO and Note Portfolios Our Business is Dedicated to Buying & Selling REO/Bank Owned Portfolio Properties and Other Distressed Properties, Performing and Non-performing Loan Portfolios, REO/Bank Owned, Auction Liquidations. REO - bank owned properties provide many opportunities for investors. We can arrange sales from $1 M - $1B increments. In addition, we can provide valuation services and cash-flow, exit strategies for your purchases. For portfolio managers, we can provide quick closings on portfolios. Portfolio information provided after completion of non-disclosure agreements and a LOI with SPOF. Our Services Your turnkey solution for the sale or purchase of Bulk REO packages. We provide a superior BUY-SELL marketplace bringing together all the interested parties from our extensive and expanding financial network. CRF has the experience, expertise and business relationships to get successful results. REO Buyer & Seller Services Bulk Assets
REO Management and Disposition.
We have the skills, professional personnel and systems in place to handle all phases of the REO process. CRF handles the process from end-to-end, ensuring the smoothest possible "hand-off" between providers. Bulk REO Properties When lenders foreclose on real estate, the property must first be placed for sale through a foreclosure auction. If no one bids on the property, it reverts back to the bank. Once the bank has ownership the property becomes known as bank owned/REO property. Due to the current market financial institutions are taking these properties and bundling them in packages called bulk REO portfolios. They then sell these portfolios for one flat price. We sell bulk REO/Bank-Owned properties and have small to large portfolios available. We bring together sellers and qualified buyers for the purpose of buying these portfolios. Many investors are new to this type of real estate investing and therefore may be unfamiliar with the procedures required to purchase portfolios. We try and simplify the buying process for our clients, by providing straight forward information that’s easy to understand. CRF provides a turnkey solution where Buyers, Sellers and their agents successfully complete Bulk REO transactions. Our extensive and expanding Bulk REO network simplifies and improves the process and accuracy of completing Bulk REO and Note transactions. We act as a reliable and competent Buyer, Seller or Intermediary as required by our clients. We also promote real and successful direct Seller packages and custom package capabilities. Our professionals guide you through the challenging Bulk REO market towards successful transaction closings. We can also arrange financing and exit strategies. We welcome all types of investors from investment groups, hedge fund managers, REITS, TICs and individuals seeking immediate equity participation. Serious participants in the market of Bulk REO, Performing and Non-Performing Notes, Private Investments, etc. work with CRF because we deliver results. Our Bulk REO Sellers Network connects real Buyers with real sellers of Bulk REO packages and non-performing notes. We work with many Banks, Asset Companies, Hedge Funds, and other financial institutions in order to obtain Bulk REO inventory to meet our client’s needs. Currently, our Acquisition Team is supplying buyers with product. The banks have great discounts. In some parts of the country, the bulk REO packages are as low as 50 cents on the dollar. Knowing where to find bulk REO properties puts you in a position to take advantage of great discounts on bank-owned real estate that will almost certainly increase in value over time. There are several reasons this information is not readily available to the general public. One reason is that the lenders who are interested in selling bulk REO packages prefer to work through established channels with representatives who understand their protocols. Every lender has a slightly different procedure. In turn, the representatives have a vetting process for the bulk REO buyers they choose to work with. It's a seller's market in the bulk foreclosures arena and the reps can get extremely busy. It is also important to understand that there is not a list, per se, of bulk REO properties that you can wade through and pick and choose what you like. Instead, a custom bulk REO package is prepared for your review. This happens after you complete the initial paperwork and provide proof of funds to the lender, bank, or institution holding the properties. Notes Today many property owners are electing to provide financing to new buyers when they sell their home or investment properties. Often referred to as seller financing, owner assisted financing, or owner carry back financing, this method of private financing is often desirable for many reasons including:
These real estate notes are known by various names such as, privately held mortgages, contracts for deeds, deeds of trust, land sale contracts, real estate contracts, trust indentures, trust deeds and promissory notes, depending on what state or region of the country the original sale took place in. These debt instruments provide the holders of these real estate cash flow notes with income over the long-term. However, many times a noteholder's circumstances may change. Making the option of large lump sum payment now more appealing and useful than the smaller monthly payments for a variety of reasons including:
A top national note buyer, we have the expertise and the know-how to get your note purchase accomplished in a fast, efficient and professional manner. We understand the bottom line and take pride in providing some of the highest pay prices in the industry. We buy and sell real estate notes and contracts. All property types! Nationwide! Residential - Commercial - Land Residential Property Notes Single Family Homes, Duplex, Triplex, Fourplex, Mobile Homes with Land, Townhouses, Condos Commercial Property Notes Motels & Hotels, Marinas, Multi-Unit Retail, Office Buildings, Apartments Complexes, 5+Multi-Family Residential and More... Land Notes Buildable Lots, Improved Land, Recreational Land, Acreage Non-Performing Notes Sub-performing, Delinquent and Non-performing mortgage notes and contracts secured by all property types. Fast, Hassle Free Closings We are dedicated to helping note and contract holders nationwide, convert their long-term payment streams into large lump sums of "cash in the bank" as quickly and hassle free as possible. Whether you are receiving payments on a residential property contract, commercial property contract, mobile home note or a bare land contract. Call us, an experienced mortgage note buyer, we will quickly provide you with the highest possible quote on your privately held mortgage, nobody pays more!
Bulk REO TerminologyHere is some of the more commonly used bulk reo terminology to help you get off to a good start in building up your vocabulary: Bulk REO = Bulk Real Estate Owned This term has many, many equivalents. I could fill this entire page with other terms. Some other common terms are 'bulk foreclosures', 'reo portfolios' and 'bank owed real estate'. They all imply real estate owned by a bank or other institution as an end result of the foreclosure process. LOI = Letter of Intent The buyer provides an LOI. It outlines the parameters of the intended purchase, including price, locations and types of properties. MFA = Master Fee Agreement The MFA outlines the parties involved in a bulk REO transaction and how each group will be compensated. Sub Fee = Sub Fee Protection Agreement This sub-fee protection agreement (“SFPA”) is issued on behalf of the Payer (also known as the “Payer”: Company involved in the sale of the Commodity identified by the above Contract Number. Commission payment/s will be made after the delivery and payment for each shipment. The commission will be paid by the Intermediaries’ Beneficiary Paymaster to the intermediaries named in this SFPA for all contracted agreements. NCND = Non-Circumvent / Non-Disclosure Agreement The NCND is signed off by all parties in a transaction. It's an agreement not to circumvent any party in the transaction or to disclose confidential sources. SPOF = SOFT Proof Of Funds The bank will usually require SPOF before proceeding to prepare a bulk REO package. It takes a lot of work to put together a package, per the buyers LOI. Therefore, the bank will first require SPOF to ensure the the bulk REO buyer has 10% available to be able to start the transaction. It can be a escrow account or bank account or attorney letter. POF = Proof Of Funds The bank will usually require POF before proceeding to prepare a bulk REO package. It takes a lot of work to put together a package, per the buyers LOI. Therefore, the bank will first require POF to ensure the the bulk REO buyer is able to complete the transaction. Vetting = means careful or critical examination Lenders take bulk REO buyers through a validation process to confirm they meet the criteria of a ready, willing and able buyer FAQs Q. What does REO mean? A: Real Estate Owned, it is the term that banks use to identify their foreclosure properties. These properties are now called non – performing assets (bank is not making money on them). Q. What is a BPO? A. BPO is short for (Broker Price Opinion). Some REO packages from banks will have BPO's . These values come from Comps and are used to justify the LTV. Q: How do I know if it is a good price for the homes? A: Do you own homework, the bank might give you their (BPO) broker price opinion, but you must understand that is just an opinion of an agent trying to get a listing, you must do your own valuations. Since the market is changing fast today, a valuation review by the buyer is recommended. Q: Can you show me the list of properties so I can decide? A: Yes. With an LOI and SPOF, we will use the LOI to compile the tape and then release the tape to the buyer for consideration. Q: Can I choose which city/county/state the properties come from? A: Yes. The buyer has to specify this on the LOI. Q: You said the minimum portfolio is $1 million. Will the bank consider less? A: Banks are giving preferences to customers with larger purchasing powers. We will strive to meet as much of our investors' needs as possible but, in order for the bank to take your offer seriously, you should be prepared to make at least a $1 million commitment. The $1 million minimum is on the purchase not the quoted portfolio size. Q: What type of payment will the bank take? Can I finance these deals? A: You are expected to have either cash or line of credit to make these offers. Given the nature of these transactions and the proof of fund requirement, it makes assessment of escrow difficult. Cash buyers are given priority from the banks. Q: Do you have commercial or multi-unit properties? A: Yes. Residential, commercial,multi-family,apartments, office building, warehouses, hotels, etc. Q: Do these properties have clear title? A: Some bank properties are warranty deeds and others are quick claim deeds. Title insurance is still recommended. Q: Are these properties listed with a real estate agent? A: No. These properties are not currently on the MLS. They are packaged in bulk deals before they hit brokers or MLS for markup. But we do sometimes get some MLS homes or some from investors, but 95% of the time they are fresh homes from banks or hedge funds. Q: Are these properties occupied? A: These properties are generally vacant. Q: How many broker chains are involved in these transactions? A: Depending on the transactions it could be one or two. Q: What If I am not direct there is 4 other people involved? A: If an intermediary or a broker fail to be direct to their buyer, they WILL be on the sub fee agreement as a IM and split the fee with the IMs. Q: What Prices or LTV'S are available? A: Prices and LTV's are based on the bank/sellers motivation as well as buyer demand. For example you will pay higher prices for Arizona, California, Nevada because they are the most requested states, so the inventory is low and priced high. Q: What slows down order processing? A: Incomplete information, old dates on forms, unreasonable LTV requests, unsigned documents or inability to verify funds in a timely manner. Please ensure all forms are complete and current. Q: How do you pre-qualify buyers? A: Our goal is to conduct business in the most ethical and efficient manner and we expect the same from our clients. More than 70% of our bulk REO request are rejected because the "Buyers" have no real money for purchase or the buyers have unrealistic expectations. The most common unrealistic expectation is the buyer's recommended LTV.
CRF does not provide tax, legal, and/or investment advice to its clients or to its subscribing members. All investors are strongly urged to consult with their own advisers regarding any potential investment or strategy. The views, strategies, advice, or products offered by any third-party contributor do not necessarily reflect the views of the CRF Network, or its principals. While it is believed that the information contained herein is reliable, no representation or warranty is given as to its accuracy or completeness, and it should not be relied upon as such.
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