How do you buy properties so cheap? How do I get in on that?

RebuildUS is one of the largest bulk buyers of foreclosures in the U.S. We buy distressed properties and resell them using our unique seller-financing method. RebuildUS buys in list form, at deep discounts (usually 50%-90% below market price). We buy straight from banks and institutions, often sight-unseen. Our listings are then available exclusively through RebuildUS.com.
Let's say you've got deep pockets and you love America and you want to do your part to help your country (while helping yourself, of course). You might be interested in helping to fund a future RebuildUS package. It's not for the faint of heart (or for the thin of wallet), but it is worth your while. Contact bizdev@rebuildus.com for information. Minimum buy-in starts at $500k.

What is a foreclosure? How is that different from an REO foreclosure?

When a borrower fails to comply with their deed of trust or mortgage, most typically through default, the lender may then make moves to foreclose the asset, or repossess the property. Once the property has been foreclosed it can then be resold at a reduced value. A property owned by a bank or institution is known as an REO property.

What is seller-financing? What is the RebuildUS Method?

The RebuildUS Method combines seller-financing with very small down payments and this promise: house payments below the cost of rent. This simple model makes the American Dream affordable, and has already made homeowners out of thousands of Americans who would otherwise be renting.

What are "toxic" properties?

Toxicity is defined by the individual who buys the property. It usually means that the property is considered a net liability (for instance, if liens from back taxes are greater than the sale price). Toxic properties may be donated to a charity or sold to other parties with full disclosure. Charity donations are tax-deductible.

Why would a charity want a toxic property?

In many cases, the cause of the toxicity is a monetary issue, which can be resolved by the charity without payment or at a greatly reduced rate. Other times, the charity may have the resources or manpower to refurbish or fix houses that would otherwise be cost-prohibitive to repair. In a worst-case scenario, they may be willing to demolish the house and use the land for other purposes.

What are the REO Purchase Disclaimers? Does that mean "fine print"?

Yes. Very important "fine print" that you must read and understand in order to become a RebuildUS subscriber.

REO means "real estate owned". It's short-hand for foreclosed properties, sold by banks on an "as-is" basis to real-estate investors, often in bulk.

As is always the case with foreclosures, there are risks. Before you move forward with your membership, we ask that you carefully read and agree to each item in our checklist waiver. The list has been developed for your own protection.

PLEASE NOTE: The listed issues will occur in some properties, but certainly not in all properties. Whether they apply at all, and how many apply, will vary.

Homes in neighborhoods and cities that are economically depressed are likely to have a higher degree of toxicity. Be prepared.

REO Purchase Disclaimers

REO properties may be bought with very little or no due diligence
REO properties may convey without good or timely title and may not have title insurance
REO properties may be subject to back taxes
REO properties may be subject to liens, which may also include utilities
REO properties may have outstanding housing code violations
REO properties may be facing condemnation, notices, or may already be condemned
REO properties may have been vacant for some time
REO properties may have attracted squatters or vagrants
REO properties may have been vandalized
Depending on the area, seller financing may be difficult to service
Homebuyers may default on loans

REO properties may require critical maintenance to return to "useable" or "livable" condition:
Landscape maintenance
Boarding windows and doors
Garbage clean up
Roof repair or roof replacement
Plumbing repairs
Copper wire replacement
Flood damage repair
Fire damage repair
Environmental cleanup
Removal of squatters
Removal of animals

What can I do to protect myself legally in selling and buying foreclosures?

Legal issues surrounding real estate can be highly technical and complex. Real estate transactions, including foreclosures, generally are regulated by state law, which can vary from state to state. RebuildUS serves simply to bring sellers and buyers of distressed property together.

RebuildUS does not get involved in transactions between its members, does not purport in any way to be a source of guidance or advice on the legalities of real estate transactions between its members, and disclaims any and all liability for such transactions. Each member assumes full risk for his transactions. Each member is solely and exclusively responsible for informing himself on the law pertinent to his transactions and for providing his own legal protection. Members are advised to consult their own legal and real estate advisors on legal matters pertaining to their transactions.

RebuildUS 2011

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