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Updated almost 8 years ago, 02/20/2017
If you were to buy NPNs from a broker…
I'm currently doing research, so guidance is helpful.
I'm looking for some advise: what you would like the broker to provide, for due diligence. What I would do is provide the tape from the financial institute, and then, they can tell me what information they want on the notes they're interested in.
I would consider offering the following:
- Crime summary of the property's location from Trulia.
- All the county tax information (usually from the assessors), including the city's info (eg, taxes).
- Comps and ARV/FMV, upon request, for those whose plans include taking possession of a property, and may want to sell it.
- Rent averages, for those whose plans include taking possession of a property, and may want to rent it.
- Title information from a local title company.
- General city stats (so they can have some ideas of the local market).
- What else?
Thanks for your help!
Hey Eddie,
What exactly are you looking to do? Are you going to be purchasing notes yourself or are you looking to broker deals? Your question seems a little vague?
Brokering deals. Wanting to get some feedback, so when I start approaching some buyers, I have a better education of what to offer, and to expect.
Tax liens and water bills . Any fines against the asset ?