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Updated almost 8 years ago, 02/20/2017

User Stats

123
Posts
35
Votes
Eddie Starr
  • Specialist
  • fremont, ne
35
Votes |
123
Posts

If you were to buy NPNs from a broker…

Eddie Starr
  • Specialist
  • fremont, ne
Posted

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?
Would you protect brokers / consultants with a fee agreement, and what would you include? Would you include, in the agreement, that you would work directly with the broker, not bypassing them, with them agreeing to provide the above due diligence for you?


Thanks for your help!

User Stats

85
Posts
21
Votes
Bernard Braithwaite
  • Investor
  • Waterford, CT
21
Votes |
85
Posts
Bernard Braithwaite
  • Investor
  • Waterford, CT
Replied

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?

User Stats

123
Posts
35
Votes
Eddie Starr
  • Specialist
  • fremont, ne
35
Votes |
123
Posts
Eddie Starr
  • Specialist
  • fremont, ne
Replied

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.

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User Stats

219
Posts
42
Votes
Haseeb Awan
  • Investor
  • Ottawa, Ontario
42
Votes |
219
Posts
Haseeb Awan
  • Investor
  • Ottawa, Ontario
Replied

Tax liens and water bills . Any fines against the asset ?