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REO/Bank-Owned & Promissory Note sales

Today’s Real Estate market presents different types of selling products. A current and most popular product that investors like to talk about these days is foreclosures or bank notes.

Lake Nona Home

Lake Nona | © Rich Canelon

Foreclosures are Real Estate Owned, REO or bank-owned properties, and these properties offer affordable purchase options to suitable and potential buyers. Promissory Note Sales can be purchased before the property goes into the foreclosure process thus giving a high yield of returns (Read article below). Brokers Real Estate Group, Inc. has expanded its network, supplemented with worthy bank business relationships that assist our customers with learning and understanding more about REO/Bank-Owned properties and note purchases.

Brokers Real Estate Group, Inc. has access to numerous banks , credit unions and financial institutions, which will successfully make the process of buying a bank foreclosed property an exciting one or promissory notes at a discounted value. Count on Brokers Real Estate Group, Inc. to present the necessary tools and knowledge to help accommodate Real Estate investment demands, locate the property that fits existing financial goals, and an investor’s homeownership objectives and lifestyle.

“Promissory Note”

A written, signed, unconditional promise to pay a certain amount of money on demand at a specified time. A written promise to pay money that is often used as a means to borrow funds or take out a loan.

Laurate Park Home Backyard

Laurate Park Home Backyard

The individual who promises to pay is the maker or borrower and the person to whom payment is promised is called the payee or lien holder. If signed by the maker, a promissory note is a negotiable instrument. It contains an unconditional promise to pay a certain sum to the order of a specifically named person or to bearer—that is, to any individual presenting the note. A promissory note can be either payable on demand or at a specific time.

Certain types of promissory notes, such as mortgage promissory notes, can be sold at a discount—an amount below their face value. The notes can be subsequently redeemed on the date of maturity for the entire face amount or prior to the due date for an amount less than the face value.

The purchaser of a discounted promissory note often receives interest in addition to the appreciated difference in the price when the note is held to maturity.