The Pritchard Team

 Your Foreclosure Specialist

FIRST.

Get Pre Approved by a Mortgage Lender.   Get a pre approval letter. Please supply a pre-approval letter without contingencies. The only exceptions shall be final underwriting, appraisal and title. 
  The letter must specifically state that the lender has verified all income, assets and ratios. Additionally,  the lender must state the loan amount and LTV%.

FannieMae Home Path Lenders

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Second. Find a property to Buy.  See Link to right.

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Third. Call an Associate To schedule a showing of the properties You found.

-  Click here >> Associates

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Then. We'll write up an offer using the required contract, Bank's addendums and all other required forms.
 A deposit check is required with all offers. All properties sold "As Is", see addendums for terms.
 Not all properties will pass an appraisal for a standard loan. Be sure to inform your Lender about the property's condition.

REO is the term for "real estate owned" by the bank, savings and loan, or other lending entity 
     after the foreclosure sale (or "auction") is concluded with no other purchaser buying the real 
     estate.

All Taxes are paid to date of closing and all utilities are paid to date of closing on the HUD. Just like any other closing.

Unique Features of the REO Market

As your Foreclosure Specialist, we will bring years of experience in the successful buying and selling of foreclosure properties. We know the neighborhoods, market conditions, and what it takes to make the deal go through.

It would give us great honor to serve you with results. We are only a phone call away.  

Links about the Oh Foreclosure and  Oh Redemption Law:

http://www.foreclosurelaw.org/Ohio_Foreclosure_Law.htm
 
http://www.stopforeclosure.com/Ohio_Foreclosure_Law.htm
 
http://www.com.ohio.gov/SavetheDream/ 
 
http://www.uslegalforms.com/lawdigest/legaldefinitions.php/redemption.htm

Foreclosure Lawyer
Find foreclosure lawyers or law firms specializing in
foreclosure law. Cases handled including commerical real estate,
condemnation, lanlord/tenant, zoning, and property tax.

Financing

It is very important to be properly pre-qualified for financing prior to making offers on REO Listings. Prior to acceptance of a contract, the sellers always require verification of the buyer's ability to finance the purchase.

FHA, VA, and many of the special financing programs available to homeowners require building inspections to evaluate the condition of the property. Seldom do REO properties meet the requirements of these programs.Cash or conventional Rehab loans are required. Sometimes called 'Hard Money' loans.

None of the REO sellers that list with Coldwell Banker King Thompson are willing to hold a second or do seller take backs.

All pre-qualifying financing letters for "as is" purchases must state that the lender is prepared to make the loan based on an "as is" appraisal..

Neighborhood Information

Neighborhood Info by zip code 

City Profiles Report

Yahoo Neighborhood Profiles

FNMA HomePath Renovation Financing

• Colonial National Mortgage, a Division of Colonial Savings, F.A. »
  • (888) 669-0784
  • Serves 45 US states, no lending in: NY, NJ, DE, ND, SD
  • www.cnmcs.com
• FirstMerit Mortgage Corporation »
  • (800) 562-6694 / (614) 431-9069
  • OH, PA and IL
  • 8:00 a.m. to 5:00 p.m. Mon. - Fri.
  • www.firstmerit.com
• First Place Bank »
  • (800) 300-8013
  • Serving OH, IN, MI, KY, Western PA.
  • Call Mon.- Fri. 8 a.m. to 5 p.m. EST.
  • www.fpbmortgage.com
• Flagstar Bank »
  • (877) 374-3562
  • Nationwide-Apply online 24/7
  • Call M-F 8:30 a.m. - 9 p.m., S 9-5 p.m. EST.
  • www.flagstar.com
• NOIC »
  • (419) 885-8300
  • Serving N.W. Ohio & S.E. Michigan.
  • M-F, 8:30 a.m. - 5 p.m.
  • www.noic.com
• PrimeLending, A Plains Capital Company »
  • (800) 317-7463
  • All 50 states and DC except RI
  • 8:30 a.m. – 5:30 p.m. Mon – Fri
  • http://www2.primelending.com/
• Towne Mortgage Company »
  • (888) 778-9700
  • FL, GA, IL, IN, KY, MI, MN, NC, ND, OH, TN, and WI
  • 8 AM to 7 PM Mon - Fri and 9 AM to 1 PM Sat, ET
  • http://www.townemortgage.com

For the most up to date list of properties with daily notices sent directlty to You:

  Click here for>

Our online Listings
We are the # 1 Listing Agent for 2004, 2005, 2006, 2007, 2008, 2009, 2010 @ CBKT Polaris 

"AS IS"

All REO properties are sold "as is with the seller to make no repairs." Usually the seller has a corporate addendum with "as is" clauses that the buyer must sign as part of the sales contract. Most REO properties have been acquired by the selling corporation (seller) through foreclosure. These properties may have been neglected during the foreclosure process.

The seller does not provide a sellers disclosure statement. Information regarding how the former owner maintained the property other than as evident by the current condition of the property is not available.

The seller has considered the "AS IS" condition when establishing the asking price. Each corporation has a number of days they allow for inspections. The cost of all inspections is the responsibility of the buyer. If as a result of the inspection the buyer feels the property needs more repair than expected and notifies the seller's agent within the number of days allowed for inspections, the buyer may withdraw the offer to purchase (except for VA contract that has no contingencies). The sellers seldom renegotiate the sale price after the inspections.

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'As is' ..........

From The Columbus Dispatch
Sunday, August 2, 2009 3:12 AM
By Terri Rupar
The Washington Post

" .. Take it or leave it, the two small words say."

"When a seller lists a home "as is," it means he can't or won't negotiate with the buyer over any fixes or credits. The buyer can get an inspection and make an effort to know what problems there might be, but he's agreeing to take it without repairs.
..........."
"But if a seller adds the "as is" clause to the contract, and the buyer agrees to it, nothing except the smoke detectors, which are required by local law, needs to work properly."

"They're saying, 'Come get it. Come look at it,' but under the contract, I'm not required to repair anything,"

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Inspections and repairs.
YOU NEED TO READ THE ADDENDUM FROM THE SELLER. And you need to make sure the Buyer reads it before signing it.
Looking for items like:
Countrywide
In no event shall the Seller be obligated to make any repairs or replacements, or correct any problems or defects that may be indicated in the Buyer’s inspection reports.

AND

AHMSI
If Buyer timely objects to the condition of the Property by the Inspection Period Deadline, then Buyer, as
Buyer’s sole option, may terminate the Agreement and neither party shall have any further obligations
under the Agreement. As a condition to Buyer’s right to terminate the Agreement prior to the Inspection
Period Deadline, Buyer agrees to submit to Seller any and all written reports resulting from any inspections
conducted or ordered by Buyer within three (3) calendar days following the close of the Inspection Period
Deadline. Upon Seller’s receipt of such reports, the Deposit will be refunded to Buyer.


IndyMac
If Buyer timely objects to the condition of the Property by the Inspection Period Deadline, then Buyer, as
Buyer’s sole option, may terminate the Agreement and neither party shall have any further obligations
under the Agreement. ............
.....................................

Any repairs to the Property identified by Buyer or which may be required by Buyer’s Lender (collectively,
“Repairs”) are the sole responsibility of Buyer. Seller shall have no obligation to make any Repairs to the
Property whatsoever. Buyer agrees not to enter the Property prior to the Closing Date for the purpose of
making any Repairs or any other alterations without Seller’s express prior written consent.


Those are just 3 examples. They're all similar. And they are pretty clear.


And they all have a clause like this in them:
In the event any provision of this Addendum “A” First Addendum To Contract (this “Addendum”)
conflicts in whole or in part with any of the terms and conditions of the Contract, the terms of this
Addendum shall control the rights and obligations of the parties.
(This pretty much voids the inspection clause in the CBR contract.)

NOTE: THE PURPOSE OF THE BUYER'S INSPECTION(S) OR INVESTIGATION(S) IS TO DETERMINE IF HE OR SHE WISHES TO PROCEED WITH THE PURCHASE OF THIS PROPERTY. IT IS NOT FOR THE PURPOSE OF CREATING A LIST OF REPAIRS FOR THE SELLER. IT IS THE SELLER'S POSITION THAT THE NEGOTIATED PRICE REFLECTS THE PRESENT "AS IS" CONDITION OF THE PROPERTY. SELLER WILL NOT PAY FOR REPAIRS OF ANY KIND UNLESS OTHERWISE AGREED TO IN WRITING.

Bank of America Home Loans 
Jonathan Sadler
Retail Sales Manager
8800 Lyra Drive Ste 200 
Columbus, OH 43240 
Direct: (614) 987-0128
Assistant: (614) 987-0127
Fax: (866) 374-2050
Contact Me

Call about the FHA 203k program.

Matt Schoedinger -

Wells Fargo Home Mortgage
Office: (614) 310-1113
Fax: (866) 552-3104
matt.schoedinger@wellsfargo.com

Chris Healy
Renovation Specialist
Wells Fargo Home Mortgage
614-310-1117
chrishealy1@wellsfargo.com

Kathi Holtz
kholtz@primelending.com
PrimeLending, A PlainsCapital Company
Mortgage Loan Officer
501 W Schrock Road, Suite 200
Westerville, OH 43081
NMLS#525331
614-682-3121 direct
866-997-1224 efax

Union Savings Bank

 http://www.usavingsbank.com/ ............. 

44 S. State St.
Westerville, OH 43081
Tel: (614) 882-2286
Fax: (614) 882-6407

3550 W. Dublin Granville
Columbus, OH 43235
Tel: (614) 761-9700
Fax: (614) 761-9370

4090 Hoover Rd.
Grove City, OH 43123
Tel: (614) 317-9700
Fax: (614) 317-9112

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All information presented is subject to errors, omissions and revisions and is not warranted.
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