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STERLING HOLDINGS INC. SIMPLIFIES SELLINGS REO PACKAGES
Fort Lauderdale FL., Lezley Barr of Sterling Holdings Inc. provides REO sales in a different way. There’s a better solution but first let’s look at the problem. “Buyers of bulk REO and note packages are frustrated, and unable to find product.” Email databases and a failing real estate market have created a “new email broker (consultant)”, a new breed of salesmen, capable of doing REO sales with lengthy chains of consulting brokers in between buyer and seller. Fueling the REO liquidation market is a depressed real estate market in many parts of the country sparked by high foreclosure rates. All this feeds the broker chain that impedes sales of REO packages. Sterling Holdings Inc. plays a much different role in bringing forth buyers to institutions. Sterling’s REO packages are verified to be real prior to giving them out to their clients. Sterling Holdings, Inc. only sells to direct buyers that are large hedge funds, institutions, REITs and private investors with liquid funds to purchase. All buyers are represented by an attorney. Information is confidential and no one gets buyer’s proof of funds except our attorney and the seller. Buyers, in their pursuit to purchase bulk REO packages and notes, come across many chains of intermediary brokers. Many of these intermediary brokers do not know their buyer or seller. Sales are delayed due to poor communication. “Buyer’s financials are exposed to inexperienced intermediaries with the possibility of having orders shopped to more than one unverified source,” states Barr. A recent real estate dip has promoted real estate agents, brokers and anyone with an email database of investors and email blast technology to become an REO broker overnight. Sales of these REO packages can range from 10 million to multi billions. “Sadly I’ve seen broker chains as long as 21 people, bringing the sale to a dead halt,” comments Barr. Fraudulent brokered loans with changing variable rates are the driving force that promote the present day foreclosure scenario. Due to predatory lending, “toxic loans were made to people who could not afford to pay them back”, says blogger, Nick, at http://www.foreclosurefish.com/blog/index.php?print=347. Other depressed housing market factors include increased defaulted loans, tightening lending regulations and less loans for the public. “During January 07 - January 08, over 100 mortgage companies, banks and credit unions have gone out of business. We've all seen disturbing media reports that large sub prime lenders like New Century Financial and Freemont Bank are going out of business, thus contributing to the feeding of the fire for bulk asset lender liquidations,” comments Barr. Intermediaries are hesitant about releasing information about their selling sources. It is hard for buyers to speak to sellers to accomplish a simple sale. Buyer’s funds are not easily proven. Sellers are not easily verified as true sellers. In this market, demand is much higher than supply. For the buyer it is like finding a needle in the haystack. Lezley Barr, P.A. S-Corp, is a real estate entity who legally represents a professional brokerage corporation. Lezley is recognized for discount commercial sales with key relationships and access to REO product. She is a principal in Sterling Holdings, Inc. and is represented by legal counsel that provides verifiable REO packages through authorized selling agents, attorneys, asset servicing companies, hedge funds and private sellers allowing buyers to receive real product in one to twenty business days. For more information about REO packages sales, contact Sterling Holdings Inc, or visit http://www.sterlingholdingsinc.com/ email: care@sterlingholdingsinc.com |