This course is Department of Real Estate (DRE) accredited for six (6) hours of Continuing Education (CE) in Consumer Protection. DRE Sponsor No. 0001
Course Description: Understand the guidelines and requirements needed during the loan qualifying process. Students will gain a thorough knowledge of loan programs which lend themselves to REO property sales and identify the most appropriate loan for the buyer. Learn the key points when preparing the purchase contract for an REO property to meet the requirements of the REO seller and demonstrate the ability to manage the escrow process to achieve a successful and timely closing.
Understand the requirements and procedures of managing the REO property both at time of the bank's acquisition and during its marketing.
Utilize a variety of outreach marketing techniques for selling the REO property.
Learn the requirements in preparation of the purchase contract and completion of the Real Estate Advisory (REO) form.
This course covers:
Learn the benefits of a short sale to the lender.
Identify how to financially qualify the buyer, including lender's requirements for debt ratios, qualifying income and debts, employment, liquid assets, gift funds, and credit issues.
Explain the requirements and procedures involved to the buyer during the FHA 203(k) and 203(k)
Instruction on how to write a purchase contract for the REO property which meets the REO seller's requirement and
Ensure the buyer is comfortable and qualified when preparing the purchase contract for the REO property.
Specific duties involved when managing the escrow of the REO property and the importance of timely, periodic and necessary communication to the listing REALTOR®, seller bank or 3rd party asset Management Company.
Instructor: George Lawrence For Instructor Bios click here.
"I just wanted you [George Lawrence] to know how much I enjoyed and learned from your [REO] seminar in Victor Valley... You were lively, knowledgeable and entertaining all in one. You kept the attention of the 100+ students in attendance and were open, approachable and non-condescending. I learned a lot from your class. In short it was one of the best real estate seminars I have ever attended." -Submitted on February 21, 2010 by Donald Stump, President, ShoMe Real Estate Co., Major USMCR
"I learned new information and enjoyed your teaching style at the April 21, 2010 training for the Residential REO Buyer Specialist Training in Stockton California. Thank You. I am sharing the next bit of information not to be bragging but to substantiate my experience in identifying a good teacher. For over 27 years I was an administrator at the Community College and had the opportunity to evaluate hundreds of faculty. I know an effective teacher when I have the opportunity to be in their class. Good Job!" -Submitted on May 4, 2010 by Dr. Mary Ann Cox, Lakemist Realty, Stockton, CA.