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 either Jim Galloway, Wells Fargo Home Mortgage, (James.Galloway@WellsFargo.Com),  703-507-0633, or 2) Preston Cherouny, Wells Fargo Home Mortgage, (Preston.Cherouny@WellsFargo.com), 202-295-2835.

Both Jim and Preston are extremely competent & trustworthy Lenders & can preapprove your Buyers.  (A difference between Jim & Preston is that Preston is our FHA203K Loan Specialist...  If the home needs work or improvements Preston can structure a renovation loan to get your Buyer into the home by mortgaging the cost of the work.)  Another big advantage of using Jim or Preston: "If Buyer originates and obtains financing through Wells Fargo Home Mortgage, Seller will give Buyer credit up to one (1) percent of the sales price toward allowable closing costs and, if applicable, pay for an appraisal. (Loans obtained through Wells Fargo Joint Ventures are excluded from Wells Fargo financial incentives." IMPORTANT: YOUR BUYER MUST OBTAIN A WELLS FARGO LENDER LETTER (AS DESCRIBED IN THE ABOVE PARAGRAPH) FOR THE OFFER TO BE CONSIDERED.
 
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.