Frequently Asked Questions

Why 123ms4ucom 4 REOs?

123ms4ucom is absolutely free. As a buyer, you only pay fees for successful transactions 123ms4ucom is arguably the best medium in the industry for bulk REO and note purchase and sale. No personally identifiable information is exchanged; our highly reputable verification agency does all the coordination. We only provide tapes to those buyers that have already been duly qualified. An independent and impartial escrow agency is set up to handle all the money transactions, according to agreed upon modalities by both the selling and buying parties.

What are your Procedures?

You may choose from a list of compiled portfolios inventory that meet your investment requirement or you may use our Buyers Criteria Order forms to create a specific order and fax it to 866-489-7963 or email at reo@123ms4ucom. Then download the portfolio NCND have it fully executed and sent back to 123 Mortgage Solutions. Our representative will contact you within the hour with information about the portfolio and information for the Letter of Intent.

Your order is automatically submitted through our intelligent system and distributed to all the approved sellers that fit your request; the selected seller will be on a first come, first serve basis. No personal information is shared with the sellers until one specific verified and approved seller is able to match your request. In order to effectively meet your request, you must provide complete and accurate documentation. You will receive an exclusive property list according to your order criteria.

You'll receive the list in approximately 2-4 hours and have up to 48 hours to do your desk review without a deposit. If you reject the list, you simply cancel the order via fax or e-mail notification. If you accept the list, you will have to wire, depending on the bank, a 10% to 20% earnest money deposit into escrow for an additional 7 day due diligence period. All purchases must be cash, line of credit or ‘possibly’ hard money with the only hard money contingencies being meeting your order requirements and obtaining clear title. The deposit becomes non-refundable on the 8th day and you must close escrow. Transactions are very time sensitive and you will be required to close on the required closing date.

As a buyer, do I have exclusivity to the list?

Each custom order will be exclusive and tailored to the buyer's criteria (where possible). Pre-packaged portfolios will be sold to the first successful responder, using our automated order system. There will be a certain number of back-up offers on each available portfolio. A buyer’s success will highly depend on their ability to comply with the sellers specific requirements.

What are the associated fees with each transaction?

Buyer pays all escrow costs and predetermined fees.

Do you have portfolios available to purchase immediately?

Yes, there are portfolios available for sale right now. You must be registered and pre-approved in order to make offers. Registration takes only five minutes and the approval process could take as little as 2 hours, depending on the completeness of your documentation and the availability of your listed contact persons .You may Register and buy now!

Can I create my own order?

Yes you may. To better your chance of your order being filled, only choose the most important criteria to you, like property states and price range. The more general and less specific your order, the easier the list is to create.

What escrow company will handle the closings?

This will be mutually decided by both parties. Buyers may choose their own title company.

Can I select the individual properties that I want from a list?

Although the sellers will strive hard to meet most of your requirements, there are no guarantees of meeting all your requirements For the most part, each portfolio will not be negotiable once the portfolio is compiled. The seller has the final decision and may make exception if they choose to.

How do you pre-qualify buyers?

Through our automated system, we ask for some pertinent information from each buyer. The collected information is analyzed and verified by our independent verification agency. Once all the buyer-provided info is verified, our system is automatically updated and the buyer is sent an approval notification and they can now begin their transactions on our platform. Our system will keep track of each buyer’s available funds in order to keep portfolios from being tied down to buyers with insufficient funds for the specific portfolio they are making an offer on.

How Long does the process take?

Registration takes only five minutes and the approval process could take as little as 2 hours, depending on the completeness of your documentation and the availability of your listed contact persons. You may Register and buy now!