Promised Realty, Inc
Box 708 Clackamas, Oregon USA 97015
Ron “Boots” Stacey, COO and Principal Broker
Office (503) 794-0595 ~ Fax (503) 794-4039
Offer Guidelines For Purchases Of Bank Owned Property

Special Note:
    Please make sure you have all necessary information before sending us your offer and about your outstanding offer, or countered offer. If you have questions, please call. Some of the information you might want could take some time to get. Don't miss important schedules for submitting your offer because some of the items below are missing. Everything you need for a smooth transaction are listed below. We fully understand the time delays due to displaced owners and are here to help and thank you for your interest in our listing.


  1.  Cash offers, or offers with a substantial down payment will require an accompanying “Proof of Cash to Close”
       letter from a reliable and verifiable source. If the source of cash is from a "cash" account then it must be shown.
       If the source of "cash" is from a line of credit that source must be declared and submitted with your offer. All cash
       originating from any source, including buyer's closing costs and used for any purpose to close the transaction,
       must be verifiable to the satisfaction of the seller. Cash from the future sale and/or closing of a buyer's property
       or any other pending source will not be acceptable.

  2.  New loan offers will require an accompanying “Pre-Approval” letter based upon credit scores and subject to the
       appraisal from a reliable and verifiable source. “Pre-Qualification” letters are not acceptable.

  3.  A personal check, or cashiers check, (No Promissory Notes) must accompany the offer made payable to Fidelity
       National Title. Send a copy of any earnest money check to Promised Realty with the purchase documents. Earnest
       money will be deposited upon verbal acceptance from seller. No exceptions.

  4.  Offers are to be free of any contingencies such as the sale of the buyer’s home or addendums.

  5.  Property was obtained by foreclosure, or in lieu of, and is being sold AS-IS without warranty express or implied.

  6.  The escrow shall be opened and processed at the Fidelity National Title office of seller's choice.

  7.  Assigns will not be acceptable.

  8.  During the transaction substituted or added purchasers needed for lending purposes will not be accepted.

  9.  Owner financing is not available.

10.  Promised Realty is to receive all the original documents to this transaction.

11.  Buyers shall be given the option of professional inspections.

12.  Upon seller's preview of any offer, additonal addendums will be required.

13.  Seller will entertain any and all Highest and Best offers until all documents are executed by the seller and buyer.

14.  Seller will not allow buyer to make repairs before escrow closing.

15.  Offer should have the quickest closing date possible.

16.  Seller reserves the right not to extend any closing dates without justifiable reasons.

17.  Seller will not allow pre-closing possession of the subject property by any person or persons or any persons belongings.

18.  Brokers, who are also a buyer of the subject property will not be paid commissions.

Seller’s Preferences
(This Simply Means ~ These Items Are Not Mandatory, But Little Things That Make The Seller Happy)
  1.  Earnest money to be presented by Cashier’s Check made payable to Fidelity National Title.
  2.  Earnest money deposit equal to 5% of the purchase price.
  3.  For cash purchases close 10 business days after verbal acceptance, or end of current month, whichever is sooner?
  4.  No contingencies or seller concessions.
  5.  No inspections performed during escrow.