Submitting Offers
Proof of Funds
AS IS
Upon Acceptance
Buyers Information
Making an Offer
New Mortgage Pre-Qualification and Pre-Approval Guidelines
Submitting Offers
REALTORS must submit offers through this website.
Buyers without a Realtor please call (317) 860-3700. An IndyREO sales agent will be happy to assist you.
Please read the guidelines below to ensure a successful offer.
The below documents are expected to be held by the Buyer's Agent and submitted on acceptance of an offer. The Listing Agent will request any specific documents required during negotiation. If you are a Buyer working directly with Indy REO the below should be sent to whichever Agent you are working with.
Proof of Funds
All offers must include proof of funds. Buyer's Agent must verify when submitting an offer that they have received proof of funds from the buyer. The seller may not respond to your offer without proof of funding. Either a pre-approval letter or a statement on a bank letterhead indicating availability of funds is required.
Addendum – A Sellers Addendum will be provided either with your counter offer or as your counter offer. Such addenda will stipulate the as is condition of the home and other terms relative to closing dates and instructions, title insurance and inspection periods.
AS IS
We specialize in selling Bank Owned, Foreclosed properties, which are usually sold “as is”.
Please allow AT LEAST 3-5 Business Days Response Time on ALL Offers.
Our customers have instructed us that quick responses are not always possible.
Wait 3 Business Days before calling to check the status of your offer.
If your offer expires, its terms are no longer binding. Please submit an extension if necessary. You will get a response even if your offer has expired. You will be notified immediately upon the seller’s response.
Extensions: Please submit an Amendment to extend time to respond if necessary and the seller will sign it if your offer is accepted. If you do not submit an extension, provisions will be made in your counter offer extending response time.
Upon Acceptance
Inspections – In most cases the electric is on. Gas will also be on only if heat is required and then only if gas appliances are present and functional. In most cases water will be on to the METER ONLY. In all cases properties have been winterized. DO NOT DISRUPT THE WINTERIZATION. As the property is listed for sale in AS-IS CONDITION, the seller will not guarantee that utilities will be functional for inspection. The seller WILL NOT authorize any repairs for the purpose of inspection unless agreed to in writing in the accepted purchase agreement. In all cases you must request DE-WINTERIZATION if pluming inspection is required.
ALLOW 5 DAYS FOR DE-WINTERIZATION. If you find that any utility is not on, it is due to a problem with such utilities, and such utilities will NOT BE TURNED ON unless the buyer pays for the repairs required to establish such service. DO NOT ORDER ANY UNTILITY TURNED ON WITHOUT WRITTEN CONSENT OF INDY REO.
Earnest Money and the following Original documents must be submitted immediately upon notification of Acceptance of an Offer.
Purchase Agreement- All pages and the Signature Page with original signature of buyer
Counter Offers (if applicable) - All pages and the Signature Page with original signature of buyer
Sellers Addendum - All pages and the Signature Page with original signature of buyer
Lead Based Paint Disclosure (if applicable) - All pages and the Signature Page with original signature of buyer
Title Commitments
Title insurance will not be ordered until Indy REO has received earnest money and all original documents.
| Buyers Making an Offer - In order to be sure you have a secure source of funding for your next Real Estate acquisition, all of the sellers we represent will require proof of funding. Either a Bank Letter indicating your ability to pay cash, or a Pre-qualification letter from your Mortgage Representative will be required to make an offer. See the checklist below for Mortgage Application guidelines and a list of what you will need. New Mortgage Pre-Qualification and Pre-Approval Guidelines - If you plan to obtain a mortgage for your next purchase, you will need to obtain pre-qualification or pre-approval. Pre-Qualification - quickly determines if you are able to apply for a new mortgage.
You will need to pay for a credit report. Does not guarantee approval.
Pre-Approval - Secures your new mortgage financing. Pre-Approval takes longer to
obtain, but will greatly speed up the closing time of your new purchase.
To apply for a new mortgage, you will need to prepare the following items. Please feel free to contact us for a reputable Mortgage Representative to contact. The list that follows indicates what you will need.
Different Mortgage Lenders often require other information depending on your personal situation. |