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The Buyer that the properties are to be titled to must open an escrow account with our Closing Escrow Agent Firm.
Before an escrow account is opened, the Bank’s Escrow agent will call the Buyer's escrow company and ask for the portfolio's amount (which must include all closing cost and any Consultant fees). If the total purchase amount is not there, then your relationship with Tonya will be terminated immediately. If the funds are there, then the Escrow Agent will ask the Buyer’s Escrow agent to hold these funds until the day of closing. Contracts will be sign in order for this part to be executed legally from Escrow to Escrow.
A minimum of $50K security deposit is required. These funds are refundable at any giving time. Please note, any buyer that removes their money for any reason after getting a list of properties will be blacklisted for future transactions or will be required to deposit the entire purchase amount with the Seller’s Escrow Agent. Please understand that these transactions must be a guaranteed buy from the Buyer, if the properties meet their LOI criteria. There is no cherry picking allowed, but the Buyer will be allowed to remove any property that does not meet their criteria specified on their LOI or if the property is condemned by the city, burned down, incomplete or has over $25K in total rehab cost, which will must be certified by a licensed builder.
A letter must be signed by the Buyer and emailed to the Seller’s Escrow Agent giving Tonya Sampson permission to represent them on each purchase with the Bank. Because Tonya Sampson has been proofed up with the Bank to buy properties, she is not allowed to bring in buyers, but she can get properties on their behalf.
Once the security deposit has cleared and the total purchase amount verified, the Seller’s Escrow Agent will notify Tonya Sampson and the Bank. The Bank will take all the properties out of their inventory that meets the Buyer’s LOI criteria and amount they are willing to spend. This list will be sent to the Buyer by Tonya Sampson with a specific due diligence period. During the due diligence period the buyer will have full access to all the properties in the portfolio. Once the due diligence period is completed, the Buyer will be asked to execute the purchase contract and deposit the entire purchase amount including all closing cost and any Consultant fees with the Seller’s Escrow Agent or have their own Escrow Agent release their funds to the Seller’s Escrow Agent for Closing of the transaction.
Once all these steps have been met, the Seller’s Escrow Agent will close the transaction in a timely manner.
The Seller’s Escrow Company info is listed below. Please feel free to contact the Escrow Agent to have your escrow account set up. She is there to help you get the process started. Please refrain from asking any questions pertaining to the Bank’s identity or Asset Manager’s identity. The Escrow Agent can stop the transaction at any giving time if she is been rushed or harassed. All questions must be directed to Tonya Sampson. If interested, please contact me at firstname.lastname@example.org and my partner and I will provide you with contact information,
Thank you for your interest in buying real estate and we hope we can fulfill and close your request in a timely manner.