Guidlines and Instructions For New Loan Purchase

 

Subject Property: 11990 SW Corby Drive #16 Portland, Oregon 97225

 

Instructions to realtors:

 

1.       This property will require at least a 20% down.

2.       Buyer may use Conventional, FHA, or VA financing.

3.       Seller requires an “Pre-Approval Based On Credit Scores and Subject To Apprasial” letter from the buyer's lender presented with the offer. 

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

5.       If the seller accepts your offer you will be given eight additional pages of addendums for your buyer to sign. These pages of addendums cannot be modified in any manner.

6.       The escrow shall be opened and processed at:

 

Fidelity National Title

Patricia Nuttbrock

430 NW 10th Avenue Suite 101

Portland, Oregon 97209

Voice (503) 243-5599

Fax (503) 243-5855

Patricia.Nuttbrock@fnf.com

 

7.       Promissory Notes shall be redeemed upon the verbal acceptance of the seller. Promised Realty will tell you that the seller has verbally accepted the offer, if the seller has indeed done such.

8.       Your Real Estate Sales Agreement should state concerning the note redemption “Upon Seller’s Acceptance”.

9.       Cash from redeemed Promissory Notes shall be deposited with the Fidelity National Title office above.

10.   Assigns will not be acceptable.

11.   During the transaction substituted purchasers will not be accepted.

12.   Owner financing is not available.

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

14.   Buyers maybe be given the option of professional inspections by the seller.

15.   Offers with escalation clauses may be countered by the seller.

16.    Lender may require some repairs done before escrow close.

 

Seller’s Negotiable Preferences

 

1.       Earnest money to be presented by Promissory Note.

2.       Earnest money deposit equal to 10% of the purchase price.

3.       Escrow closings for cash 10 business days after verbal acceptance, or end of current month, whichever is sooner. New loan 30 day closings.

4.       No contingencies or seller concessions.

5.       No inspections performed during escrow.

6.       Buyers with limited funds should add the allowable closing costs to the sales price.

7.       Seller desires to retain his option of negotating the highest and best sale.