Our buyer fell through for this package and we have until today to close on it.
We have actual BPO values as well as a 3rd party AVM. In case you’re not familiar with AVM, it’s what most bulk REO buyers are using to quickly valuate REO portfolios before making offers.
For more info on AVM, checkout: http://en.wikipedia.org/wiki/Automated_Valuation_Model **More to follow about AVM**
Here are the details of the portfolio:
- 181 Properties in the Midwest / southeast
- Concentration in MI and OH
- Purchase price is $781,690.00
- BPO value is $9.8M – 7.9% LTV
- AVM value is $5.3M – 14.7% LTV
- All deeds are immediately available
Escrow must be opened TODAY.
If you are serious email / fax me your own signed contract and open escrow with the company of your choice.
I will ask you to sign my contract to complete the transaction once escrow has been opened.
As always, please feel free to contact me for any questions.
Have a great New Year and a prosperous 2009!
P.S. Our Tampa, FL package is still available – 7 doors for $410K
Click here for details: http://buybulkreosnow.com/?p=166
Unfortunately our interests are in Southern California. If you ever come across properties there I am a direct buyer and very interested.