1.1 Acre lot ready to build, Nice area
KAREIC NPO Capital REO PROCEEDURE
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CASH Funding Agreement
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Bank will prepare contract (usually takes about 2 weeks)
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Standard RE escrow must close in less than 15-30 days
FUNDING AGREEMENT
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NPO Non Profit Origination 501 (c)(3) involved in Community Stabilization and Restoration Programs
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Target end user is low to moderate income and first time buyers up to 50%-120% of area mean income
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Funding Partner will fund NPO to acquire the property
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Funding Partner protected by a note &deed of trust thru escrow
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NPO must remain on Title until sold or 105 day, whichever occurs first
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Funding Partner has full control of the property and is responsible to manage, rehab, market and resale
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Sale to General Public OK if low to moderate demographic does not exist in the property area
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NPO must report to the Bank rehab process and resale to the end user
This is the best protocol below:
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Select properties of interest (higher end properties seem to have the best opportunity for a profit margin)
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Return properties to me by email
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We will request pricing and request that the properties be reserved (first come first serve)
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If property is available we will get word within 48 hours
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Pricing takes 3 to 10 days
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Once price is received, inspect the property
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Accept or decline property
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If accept. contract will be created between Homes That Change Lives and Capital Partner (investor)
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Beginning to end generally takes 2 to 4 weeks to close
Contact www.JPark7777@aol.com Kareic Real Estate and Investment