(PRWEB) January 14, 2008
REO buyers and sellers, rejoice. Sterling Holdings, Inc., a company with nationwide contacts and whose principals represent more than 50 years of combined real estate experience, recently introduced a website that eliminates broker chains and streamlines the process of putting buyers in direct contact with sellers of verified REO packages.
ÂInternet broker chains have become a problem in REO packages transactions,Â explains Lezley Barr, P.A., a 20-year real estate veteran and a principal of Sterling Holdings, Inc. ÂThis is due to the sheer number of intermediary consultant/brokers that always seem to get involved. In some transactions IÂve seen as many as 21 intermediary brokers.Â
Email databases and a failing real estate market have created a new type of email broker or consultant. This new breed of salesmen is capable of doing REO packages and notes sales with lengthy chains of consulting brokers in between buyer and seller. This formula, however, actually impedes REO packages and note portfolio sales, often promoting disagreements between intermediaries that can shut down the sale.
ÂSerious buyers want quick access to verified REO packages and then they want to deal directly with the seller,Â says Barr, a seasoned professional in real estate and asset management services with key relationships to banks and access to REO contacts.
ÂInstead progress often moves at a snailÂs pace, due to lack of direct communication between buyer and seller. This lengthy process also opens the potential of exposing buyersÂ confidential information to everyone up the chain. Shopping the buyersÂ order to multiple unverified sellers is not uncommon.Â
ÂSterling Holdings, Inc. plays a much different role in bringing forth buyers to institutions without the long REO broker chains. Buyers are represented by Sterling HoldingsÂ legal counsel and their identities held with strict confidentiality,Â Barr emphasized.
Verified REO product is key to the success of buyers receiving their orders. Sterling Holdings, Inc. only works directly with their buyers that are large hedge funds, institutions, REITs and private investors with liquid funds to purchase.
Sterling Holdings does the legwork and legal work required to eliminate broker chains that slow the sale of REO packages. The verified REO packages they represent are simplified negotiations between buyer and seller. They are represented by an attorney who provides a no nonsense service to promote confidentiality of the buyer and clarity of transaction.
Sterling Holdings is represented by legal counsel that provides only verified REO portfolios accessed through authorized selling entities, attorneys, asset servicing companies, hedge funds and private sellers allowing buyers to receive real product in one to twenty business days.