Donna Whitacre

Donna Whitacre left a comment for Donna Whitacre

"Hi Judy,
Tell the title company they will get paid the $150.00 for the title exam by the bank at closing. They were going to have to do a title search then anyway. You shouldn't have to pay for it up front ( at least I wouldn't). But the only way…"

Donna Whitacre left a comment for Judy Manier

"Hi Judy,
Welcome to this group. Feel free to share and ask questions to the group.
Take care
Donna"

Donna Whitacre left a comment for Marvin Davis

"Hi Marvin,

I want to invite you to my website click on the link that says "REO Education" you can sign up to learn about how to get started doing REO's and take the Certification test to become REO Certified. I think this will help you.

Best…"

Donna Whitacre left a comment for Tu Vu

""

Donna Whitacre commented on Donna Whitacre's blog post How I brought my 1st Ugly REO property… then flipped it for a profit

"Hey thanks Jesus it's great to be here!"

Donna Whitacre posted a blog post

How I brought my 1st Ugly REO property… then flipped it for a profit

About 5 years ago I was contacted by an AM company to list an REO property. This was during a time when there were not many REO properties on the market in my area. I was unfamiliar with how to market such a property as this was my 1st REO. I was…

Donna Whitacre left a comment for Jesus (Jesse) Gonzalez

"Hi Jesse thank you for the warm welcome. I have been doing BPO's for 2 1/5 years now. I am listing and selling Pre-foreclosures and now want to begin listing and selling REO properties as well. I am a HUD approved Broker. I look forward to…"

Donna Whitacre left a comment for Stacie Cunningham

"Hi Staice, Thank you for the invite. I am looking to get started in REO's. I have been doing BPO's now for 2 1/2 years and I've been in Real Estate for 16. I have my own company in Bradenton, FL."

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Comments

Donna Whitacre July 21, 2008 at 11:34am

Hi Judy,
Tell the title company they will get paid the $150.00 for the title exam by the bank at closing. They were going to have to do a title search then anyway. You shouldn't have to pay for it up front ( at least I wouldn't). But the only way they are going to know if there are any title issues is by doing the title search up front. In the future just inform the title company that the bank is requesting a title search be done to make sure that there are no title issues that they need to be aware of and that their fee will be paid at closing. Most title companies won't have an issue with waiting to get paid at the closing. Good luck with the occupants. I hope you don't have to wait till they are evicted. I don't understand why they wouln't take the cash for keys except that they are stalling for more time. Keep me posted I hope you sell it quickly.
Judy Manier July 21, 2008 at 10:37am

Hey Donna! I think I boo booed! Well, as you know I got my first REO but I still don't have it listed. The occupants did 'cash for keys' and they will be out in about a week. I now have a dilemma! I still have to do the BPO but the asset manager told me to wait until they leave the premises since they have two big dogs! I was reviewing my BPO form and noticed it is asking if there are any legal or title issues. I called the title company I work with and told her I have my first foreclosure and I need to know if there are any legal or title issues. She told me to send a fax to 'so and so'. I did just that, I just stated on my cover sheet..."I need to know if there are any legal or title issues with this property.....and I they did a title exam! They sent it to me along with an invoice for $150! So now I have a bill, and when I told the asset manager what they did and asked him if they needed that title exam, he responded he didn't know what to tell me and he is supposed to be checking with 'marketing'. Huh? Marketing? I'm confused! Do you think I will have to eat that $150? I didn't mean for that title company to do a title exam, and I told them that when I called back. She said the only way they could tell me if there were any legal and/or title issues was if they do a title exam. I just meant...give me a 'yes or no' answer. I'm confused and don't know now how to approach this situation.
Judy Manier July 6, 2008 at 2:56pm

Thanks Donna! You're a blessing! I'm excited about my first REO...just a little unsure until I talk with them tomorrow as to what's next. The house is NOT vacant...I'm not liking the idea of maybe 'cash for keys' but I can do it! Won't be pleasant I'm sure. Thanks again!
Stacie Cunningham May 28, 2008 at 2:54pm

Donna~I hope that the REO door opens wide for you!! I am sure you will find much info here!!~Stac
Jesus (Jesse) Gonzalez May 28, 2008 at 2:24am

Hi Donna Whitacre:

This site is dedicated to the Realtors who work with Lenders, Banks and Asset Managers in assisting them with the liquidation of their real estate portfolio holdings.

We are a Network of Professionals spread across the country and have come together online to network and provide support through our accumulated knowledge and experience. This support could be anything from providing information on ways to obtain industry recognized designations, to the contact information of the Asset Managers who can make or break us. The power of our network will be determined by those who participate openly and freely.

I really would like this to be a place where we as Listing Agents can share information without constraint with one another in the pursuit to help each other in the advancement of our shared profession.

Feel free to customize your “my page”, start your blog, add events, post photos, share videos and invite people to any of the new groups formed here by REOPRO. I believe with your help, this network can have a positive impact on the lives and professional development of all who are members.

If you have any other suggestion, feel free to send them my way, I will truly consider them, the door is always open and welcome to REOPRO

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