This is a Wells Fargo Real Estate Owned (REO/Foreclosure) property that is managed by Premiere Asset Services (PAS).
 
The three items I need to forward the initial contract offer to Wells Fargo/PAS are: the written offer (using the normal Real Estate Board contract forms), a copy of the earnest money deposit check made out to the Listing Company's Broker, RE/MAX Allegiance, and proof of cash funds or a Wells Fargo or its Joint Ventures (for example Prosperity Mortgage), Wachovia or Neighborhood Assistance Corporation of America (NACA) pre-qualification letter.
 
If your contract is a financed offer please contact  Jim Galloway, Wells Fargo Home Mortgage, (James.Galloway@WellsFargo.Com),  703-507-0633.

 
The Seller is "Owner of Record", the Buyer will pay for the termite inspection, and the property is being sold "as-is". Your contract should also include a clause on the contract stating: "PAS is to select the title company, closing attorney and/or escrow agent."
 
Note that it will normally take at least 45-60 days or more to settle regardless of the agreed date. Delays are normal.
 
If the property is winterized & your Buyer wants to perform inspections then your Buyer is responsible AT THE BUYER'S OWN EXPENSE to de-winterize and re-winterize the property. To de-winterize & re-winterize the property please coordinate with Jon Alderman with HMJ Alderman Inc.  He can be reached at  703-309-4104  or via email at hmjalderman@gmail.com.

When Wells Fargo/PAS agrees to a seller paid home warranty, PAS will order the home warranty through American Home Sheild.  PAS will not agree to any other seller paid home warranties.
 
The Wells Fargo/PAS procedures are once we've finalized negotiating & agreeing to contract terms then they'll send us a WF Counter Offer and WF Property Addendum which will in essence, supersede the applicable terms of the Real Estate Board contract paperwork. Important:  please note the maximum days for inspections (usually less than 7-10 calendar days) in the WF Standard Seller's Addendum regardless of what you asked for in the state contract.  I will also need the full name, address, & date of birth of all Buyers. PAS will  cross-check their names against the Office of Foreign Asset Control (OFAC) and WorldCheck. PAS reserves the right to cancel the sales contract/offer with anyone attempting purchase properties if they match names in either database. As soon as I have all the paperwork back from you, signed & initialed by your Buyers, I'll change the listing from "active" to "contract". Until the listing is shown as contract others could make offers & put your Buyer in a multiple offer situation; therefore, the sooner I get everything back the better.
 
I've also attached an EXAMPLE of the WF Counter Offer paperwork for your information.
 
Thanks & my Team looks forward to working with you. If you have any additional questions please feel free to contact me by email prindlelistings@gmail.com. Please don't call, I need to keep a written record of any correspondence regarding the foreclosures & you'll get a faster response by email. Once you've submitted an offer, please frequently check your email for correspondence regarding your contract.
 
**VERY IMPORTANT**
BUYING A FORECLOSURE IS NOT FOR THE "FAINT OF HEART." IF YOUR BUYER NEEDS A VERY QUICK AND SMOOTH SETTLEMENT ANY FORECLOSURE IS NOT THE RIGHT PROPERTY FOR YOUR BUYER TO CHOOSE. I CAN GUARANTEE THERE WILL BE DELAYS & OBSTACLES THAT WILL STRAIN THE PROCESS; HOWEVER, ONCE WE HAVE A VERBALLY RATIFIED CONTRACT WITH THE BANK YOUR BUYER WILL BE GETTING A VERY GOOD DEAL. NONE OF THIS SHOULD SCARE YOU OR YOUR BUYER. PLEASE STAY FOCUSED AND ENCOURAGE YOUR BUYER TO KEEP IN MIND THE END RESULT; THAT IS, YOUR BUYER WILL BE PURCHASING A PROPERTY FOR THOUSANDS OF DOLLARS LESS THAN THE SIMILAR PROPERTY DOWN THE STREET.

Click here for an example of Counter Offer.