Do we allow intermediates to bring buyers? 
Yes, but you must be willing to step aside and allow us to deal directly with the buyer to expedite the selling process. We will always compensate and protect you with NCNDs and sub fee agreements.

Do you provide spreadsheets of properties?
Yes, we have access to spreadsheets (tape) made for us from representatives who work with multiple banks.  Many times we carry tapes that have not been exposed to other brokers. These are only given to our clients who have already proved funds with our attorney. If you make a custom order, turn around time is from 1 to 5 days at this time and varies with the amount of orders we have.  

Do you have Letters of Authorization to sell product? 
On occasion, yes, we have a Letter of Authorization to sell our seller's product to our clients.

 What is the worst way to purchase?
The least effective method to buy REO packages is to "chase tape" because it is unlikely that you will ever catch it. This is a lesson learned the hard way for many buyers, since about 80% or more of so called 'available tapes' simply don't exist. Chasing occurs when the buyer sees an available package from a broker who does not have Proof of Assets, possession of the product, or a close relationship with the seller. The buyer normally does not have his documents readily available to submit at quick notice, say 20 minutes.  By the time the buyers fills out his LOI, the product is gone. REO packages are very short lived and get sold or locked down with deposits as fast as they are exposed to the public. They are also shopped through an email blast database to every broker. Buyers in turn are frustrated when they move funds into position to purchase and end up empty handed because they are competing with the masses. This is a very frustrating ordeal that happens to most buyers looking for "a now list." If you are going to chase tape, the best 'edge' to have your buyers package pre-submitted or ready for immediate submission.

 What is the best way to purchase?

1) Put in a custom order. At this time it takes two to seven days or more depending on order specifications, size, inventory and seller availability.

2) Purchase a pre-made list. At this time we have several lists made specifically for us on a weekly bases.  No other selling port has them. Most of the pre-made tapes are conveniently less than 500M.

3) Purchase fallen escrows that buyers did not perform on. Depending on the seller and the given time frame, we can provide our pre-qualified buyers with Verification of Assets (VOAs.)

  What are deal killers?
Unprepared buyers who do not provide complete Buyer packages and cannot proof funds in a timely manner. Also, Buyers wanting to do a simultaneous closing or a table top/double close and put in another buyer. Buyers showing vague proof of funds.  Buyers bartering price before even seeing the tape. Buyers using hard money or loan. These are indications that the deal most likely will not close. Sterling Holdings, Inc. simply will not entertain any of the above scenarios.

  What's expected when buying REO's?
Have your funds ready to purchase in cash, and most definitely not in hard money or loans. You must have the resources or experience to analyze properties within the due diligence period. Many times a bank will require a 10% refundable deposit during the due diligence period. If you over negotiate or attempt to slow the closing process, the seller will most likely not be interested in your business.  There is much more demand than supply, thus making it a seller's market.

  Do we sell notes?  
Our focus is selling REOs. We can certainly introduce you to note sellers who are direct to several platforms.

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