The startup process in REO and NOTE deals!

Greetings,
It was great talking to you last week about the REO and NPN (Non-performing Notes) business. I have added you to the list of interested parties. Beginning this week you will receive by email a summary of related opportunities.
You and your clients will be asked to sign a Non-Circumvention and Non-Disclosure (NCND) agreement. You want to be paid and so do we, and this NCND agreement is binding and is designed to setup a ongoing payment arrangement.
Many clients will not have any issues with this NCND, but some will balk at signing any fee agreement that ensures the payment of fees for service. No client will receive details of any package without signing our agreement. Our agreements are designed to protect the intermediaries and their clients.
Please note these NCND agreements represent the best efforts of our attorneys to ensure you receive payment for any contract drawn up as a result of your efforts to connect the Buyers with the Sellers. Often, a Seller has sold a package the Buyer is interested in, and in the event the Buyer and Seller contract on a replacement or other type of package with our agreements in place you will be entitled to be paid.
To buy any package you must be either the “Buyer” or the Buyers Representative. You can not do any form of an assignment in these transaction. The Buyer may use a corporation but the documents must be consistent with the same signatures.
TYPES OF PROPERTIES
1) Non-Performing and performing Notes.
a. Commercial
b. Industrial
c. Retail
d. Hospitality
e. Sub-division
f. Raw Land
2) Real Estate Owned by a Bank and Private Investors (REO)
a. SFR properties
b. Commercial
c. Land
d. Incomplete Commercial projects
Many of you have clients that would like to buy some or all of these properties. The Key is that you understand how these Sales opportunities work.
When you see our “tape” summary arrive by email you must remember that 90% of all tapes are all sold on a “buyer must take all items on the tape” basis. If this is not the case the Tape will have a bolded note stating what can be purchased independently.
The 1st key to success is speed. These tapes sell in hours! Get your clients to approve a letter of Interest if they are Note purchasers. If they are REO purchasers they should be ready to prepare and submit a “Letter of Intent”.
When you receive an Tape update from us you have about 24 to 48 hours to submit the letter.
If your client wants a NON-Performing Note package they must submit a “Letter of Interest”. Note package summaries are very light on details and this is done because of Federal disclosure laws related to the release of borrower personal information. After a “Letter of Interest” is on file, the Bank’s Sellers representative will be able to provide you with more information regarding the properties.
If your client is interested in a REO package they must submit a “Letter of Intent” and be prepared to provide proof of funds to pay for the entire Tape. The best method to do this is to include the name and contact information of your attorney in the “Letter of Intent”.

Thanks for your interest and please send me any questions you may have reading the REO/NPN business. For other sources of information you can use the following online sources to gain additional information.

http://reobulksales.blogspot.com/
FaceBook.com
Group
- Landmark REO Club - Bulk Foreclosures