Certified Pre-Owned Foreclosure - The Faster Way to Sell Your Listings
Certified Pre-Owned Foreclosure
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Certified Pre-Owned Foreclosure - The Faster Way to Sell Your Listings
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This is a Buyer's Market .... Let CPOF give your Sellers the Power of Calling the Shots!
Registration is free to all real estate agents! Why wait? Get registered today and have all your listings rated on our Certified Pre-Owned Foreclosure program!

Certified Pre-Owned Foreclosure. The faster way to sell your listings. When 20 or more homes are for sale in one neighborhood, how else will you ensure that your listing sells first?

Give your sellers the advantage, your buyers peace of mind and yourself satisfaction. Search the database for CPOF inspectors in your area, schedule your CPOF inspection and watch your traffic increase!

After your inspection has been conducted, you will be able to log in and print Summary Reports to leave for potential buyers touring the home for sale. These Summary Reports disclose to potential buyers the basic information of the home, any issues that are found remaining on the "as-is" list from the seller, any major defects they should budget for or which the seller has chosen to fix or pay for at closing and better prepare them for making an offer. These reports also offer third-party, unbiased views of the home.

Pre-listing inspection reports will help your sellers see their homes through the eyes of a critical, third-party, thus making sellers more realistic about their asking price! You no longer have to be the bearer of bad news!

Best of all, you can use Certified Pre-Owned Foreclosure to eliminate wasted time and advertising budgets on homes that will never sell!

SOME ADVANTAGES TO CERTIFIED PRE-OWNED FORECLOSURE

• The reports can be used as marketing tools to sell the home.

• Any suspicions of the buyer may be eliminated before they get cold feet.

• CPOF inspections eliminate the remorse of buyers which often leads to walking away from the contract.

• CPOF inspections may eliminate the headaches of 11th-hour renegotiations due to things found in the inspection.

• CPOF inspections relieve you from having to hurriedly procure repair estimates or schedule repairs. The seller has ample time to get things together and as a result, estimates are less inflated.

• CPOF houses may result in waived inspection contingencies.

• Deals will be less likely to fall through the way they often do when buyer's inspections unexpectedly reveal problems.

• You are no longer at the mercy of buyer’s choices in inspectors.

• Sellers can schedule their own inspections at their convenience, reducing your effort.

• Sellers can assist the inspectors during the inspection.

• Sellers have the opportunity to repair or replace issues found during the inspection before the report is generated.

• Reports provide full-disclosure protection for you and your seller.

For a home to meet the requirements of Certified Pre-Owned Foreclosure™, it must pass the CPOF rating system with a score of 70% or higher. IF A HOME DOES NOT MEET THIS SCORE, IT CAN STILL BECOME CERTIFIED PRE-OWNED BY MEETING ONE OR MORE OF THE FOLLOWING CONDITIONS:

a. The bank can obtain competitive bids for the issue(s) found and either fix the issue(s).

For example, if a roof covering has little remaining functional life, the bank can choose what to do about it, instead of waiting for the buyer to make it a contingency and an expensive one at that. Here, the bank is going to choose to get three bids from contractors (which are not inflated) and have the roof repaired prior to closing (or possibly prior to putting the home on the market).

b. The bank can merely sell the home “as is” without doing any work, but the buyer is fully disclosed of the condition prior to contract.

For example, take the roof above. The bank can choose to simply adjust their asking price accordingly, and disclose that the home is in need of a new roof, but that it is for sale “as is.” If a contract is signed under these circumstances, the issue cannot become a contingency AFTER THE FACT.

c. The bank can set aside funds in escrow to meet the cost of upgrading the issue in question.

In this case, the bank would get three competitive bids from contractors (uninflated) and take the average of those bids as the amount of money they are willing to escrow to the new buyer at closing. This is disclosed up front as always, so the buyer understands what they can expect from the bank.

d. The bank can opt in addition to “a”, “b” or “c” above to place a home warranty on the home and its systems and appliances. Home warranties are important where the appliances present are aging.

All banks and inspectors are required to comment on homes that fall below the acceptable rating as a condition of acceptance under the CPOF program. Please make sure you review these comments accordingly so you understand what the bank has outlined.
Certified Pre-Owned Foreclosure - The Faster Way to Sell Your Listings
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