I received the following email today.  I invite your comments.


"We are excited to announce a change to the home buying process for all properties sold through the GoHoming™ and Altisource Homes™ marketplace platforms.

This new approach will result in faster turnaround times and a more effective way of facilitating the documentation process for you and your buyer clients.

Going forward, we will write the contract for you! When the terms of your bid or offer are approved, our system will forward a ready-to-use, standardized Purchase and Sale Agreement. In the past, the buyer’s agent was responsible for drafting the state contract and attaching the seller’s addendum A. Now, you only need to have your buyer client sign and return the Agreement to continue with your transaction, saving you time and effort.

To view a PDF copy of the new Agreement, please click here. Also, you will find a copy of the Agreement on the “Property Details” page for each home. Simply click on the “Documents” tab.

As always, we appreciate your partnership and your business.

Best regards,
The GoHoming Team
P.S. Just a reminder that thousands of REO and foreclosed properties are bought and sold every month through GoHoming.com and our affiliated websites, and our sellers typically pay a full 3% buyer side commission. Also, find out why thousands of REALTOR® partners participate in our free buyer referral program. For more information, visit the program resource center."

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  • There's gotta be a catch in there somewhere!
  • can someone email me their contract melissa_fayall@yahoo.com

  • This is ABSURD!!!  They make it sound like it is so wonderful, but the reality is likely it is their way to get out of the local norms.
  • I received the same email this morning.  After perusing their contract I have to question many of the terms (traps) included.  The customary and usual practices in this area are that the seller provides and pays for title insurance and state transfer tax, among other thing. This new contract provides that the buyer will be responsible for these fees in addition to many other (seller) fees.  It seems the seller is not responsible for any fees other than the usual tax and/or utility prorations.

    If the buyer wants to inspect, they have to contract and pay for the de-winterizing and then be responsible for any costs and/or repairs associated with same.  This is assuming the preservation/winterizing was done correctly in the first place, which is many times not the case.  Of course we have no way of controlling who does this preservation and whether the contractor is even licensed and what not.  So what happens when the buyer's contractor de-winterizes only to find busted pipes and water leaking all over the place.  What about firing up the furnace to find it inoperable?  Do you think the buyer will pay to fix this things? The buyer walks. The seller doesn't have to disclose?  Sold as is where is

    The buyer also would have to obtain lien waivers from the contractor that does the work.  Is this not the buyer's property then?  Does the seller think the buyer would have to hand over the lien waiver?   Not good, I see trouble in the records. How will the title insurance company insure over any potential contractor liens? Will the contractors get wind of this and simply charge the seller for an additional lien waiver?  A big yes on that one. A can or worms if you ask me.

    I guess if they want to dispose of these properties, they will have to just about give them away.  I don't see the seller getting full value for the property with these tactics. Great for the economy once again. I don't see many buyers being on the same page here, especially the investor/flippers.

    This is a disclosure that MUST be done before any offers are even contemplated.  As an licensed agent in the state of Wisconsin, I am unable to draft any offer which is not an approved form by the DRL.  So do we have the buyer complete?  Yikes. 

    I don't think they can change the country's standard practice of real estate.  I foresee some changes as soon as some attorneys get their hands on this thing.  Will watch to see how this pans out.

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