BANK OWNED-This is a bank owned property. The bank is exempt from certain disclosures.  Your client may be required to submit bank addendums with your final offer.  These Addendums may not be altered. An altered addendum may cause the Seller to decline your offer.

1. TIMETABLES are to be strictly adhered to. Loan commitment, inspection periods and closing dates may not be extended and failure to close on time could result in a Per Diem charge to your Buyer. If you cannot close on time and can not abide by the terms of the Addendums, please do not write your offer.
2. PREAPPROVAL-Many lenders will not fund on a property that needs work. Make “Doubly Sure” that your Buyer’s lender will fund on a distressed property, if that is the case. A failed loan will cost us all time, money, a deal.  Unfortunately some lenders will say anything to take an application and check later.  Confirm that the loan will fund up front and that the preapproval is based upon credit scores and accurate ratios!
3. COPIES-We only need one clear copy of your offer. Do not submit multiple copies. In some cases we may need an original copy, but that would only be upon acceptance. You are welcome to drop off an original to the front desk, but do not ask me to review your offer. Kindly drop it off and it will be reviewed ASAP.  The preferred method of submission is via email or fax.
4. CONTINGENT OFFER- Do not submit an offer contingent upon the sale of another property, unless the property is already pending and going to close. Any offer submitted contingent upon the sale of a property will be rejected by the Seller. If an offer is contingent and not disclosed, it will be discovered, so do not submit. All Buyers must be pre-approved and/or have proof of sufficient funds to close on a date certain..
5. EMD-It may be a requirement of the Seller to have the Listing Agent or Seller’s Title Company hold the earnest money deposit. NOTE: We can not accept cash earnest money.  If your Buyer wants to give you cash, go to a business that will convert the cash to a cashiers check.
6. SUBMISSION-All written offers are presented directly to the Seller in a timely manner during bank hours only. This may give you time over the weekend to submit a well put together offer by early Monday morning. Please fax or email your offer. On faxed offers include a cover sheet that clearly states “To: The Carlo Gobba Team” and make sure we have your e mail address, which you will need to check regularly for a response to your offer. It is rare that we do not get our faxes, but keep your fax receipt as proof. All offers are presented to the seller, according to law and the Seller’s wishes. We present all offers until the offer is verbally accepted, in which case the bank will not look at other offers, subject to the timely receipt of the “accepted offer”. We do not present back up offers once an offer is accepted, however we may keep them on file.
7. RESPONSE TIME-The Seller is a corporate entity and may respond very quickly or very slowly depending on their volume and staffing. We have no control over the bank’s response time however; you will be alerted forthwith of any denial, counteroffer or acceptance without exception either via phone call or e mail. We will not fax a written statement to appease your Buyer. Please DO NOT CALL as you will be wasting yours and our time. If you need a confirmation of receipt or you haven’t heard from us, kindly e-mail Carlo@CarloGobba.com and we will respond.
8. COUNTER OFFERS-The banks do not negotiate in writing. Counters are relayed verbally or by email to my office, which will then be communicated to you. The only time you will physically amend your offer, is when it is accepted or you are otherwise instructed to. Your final written offer must exactly match the final price and terms.
9. MULTIPLE OFFERS-If multiple offers are submitted on the property, you may be notified that the Seller is now asking for the “highest and best offer”. In this case you will be notified that you have a reasonable time period for the Buyer to reconsider and amend their offer. You may also receive a “Multiple Counteroffer” where the Seller counters various parties and must countersign you Buyer’s acceptance for final acceptance. Keep in mind, as these properties are in high demand you should counsel the Buyer to make their highest and best offer from the outset.
10. VALUATION-For your information: pricing on Bank properties is established by professional evaluators and has nothing to do with the former mortgage amount. EXTRAS-With every offer we need: YOUR offices written executed and initialed PA; Agency Disclosure; Proof of cash sufficient to close or a current pre-approval based upon review of Buyer’s credit. I cannot submit an offer without an executed Purchase Agreement!
11. SIGNATURES-The PA must be signed by all buyers. Please make sure that there is a clearly printed name or corporate entity under the Buyer’s signature. If there is a corporate signor, make sure that the person signing is authorized and has docs to prove that authorization.
12. COMMISSIONS-Your commission will be paid as usual at the amount noted in the MLS. Yes, some commissions are odd numbers! Do not send us a copy of the MLS sheet with your offer. We know what our listing says.
    DO NOT notate the co-op commission on the Purchase Agreement. Commissions are paid as a guarantee in the MLS and are not negotiated between Buyer and Seller. Please check with your Broker if you need further clarification.

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 09/08/2010. The listing information on this page last changed on 09/08/2010. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of RealComp MLS (last updated Wed 09/08/2010 12:02:36 PM EST) or MlRealSource (last updated Wed 09/08/2010 12:11:14 PM EST). Real estate listings held by brokerage firms other than RE/MAX in the Hills may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --
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