Broker, Realtor®
Attention Agents Submitting Offer’s on IndyMac Bank, FSB REO’s Dear Fellow Agents, Please follow the guidelines and suggestions to help streamline the process of submitting offers on REO properties owned by IndyMac Bank (One West Bank). These guidelines are intended to facilitate the processing and uploading of contracts. Please ensure that your offer is complete before faxing/emailing to our office. When submitting an offer, please check off each item below to ensure the offer meets the basic requirements of submission to the bank. While I don’t require you or your client to sign and return any sort of “REO submission form,” using the check list as a guide will ensure your offer can be submitted and processed in the most timely fashion. ___ Please ensure the name(s) on the offer match the name(s) on the lender’s pre-approval letter. ___ Please ensure the amount financed on page 1 matches the amount on the lender letter. ___ Please ensure loan TYPE (Conv, FHA, VA, etc) is indicated on page 1 of contract AND on lender letter. ___ Paragraph’s 2.A, 2.C, 2.D, & 2.E add up to paragraph 2.F (many offers are not accurate here). ___ Paragraph 27.C is completed & BOTH agencies are indicated & appropriate boxes are checked. ___ The offer is signed and dated by buyers AND agent (you’d be amazed how often this is missed). ___ Verify Agent Contact info, including cell number & email are legible on Page 8 of the RPA The ONLY items that should be included with the offer : ___ FAX Cover Sheet (must have agent’s name, email address, cell number) ___ Purchase Contract (including Buyer’s Inspection Advisory) ___ Proof of funds for CASH offers. ___ Copy of deposit check (that matches the deposit amount on paragraph 2.A of the offer). ___ Agency disclosures – Page 1 & 2 (buyer signed and one for seller to sign). ___ Pre-approval letter from any "MAJOR" direct lender (if purchase will be financed). Examples of a MAJOR direct lender would be Wells Fargo or Bank of America. If you are in need of a loan contact for a Preapproval, I highly recommend: Jacob Warren Sean Palmer Wells Fargo Home Mortgage Wells Fargo Home Mortgage 916-804-0941 Cell (916) 997-5313 Cell 916-914-1336 Fax (916) 914-1333 Fax Other tips for ensuring your buyer’s offer gets processed promptly: 1. If you are not using WinForms, please PRINT legibly: make it EASY for everyone to read. 2. Please FAX all offers to (916)244-0325 or EMAIL to bruce@ColemanHammer.com. IndyMac Bank will only accept COMPLETE offer packages. If, for whatever reason, your offer is incomplete or incorrect, it may be rejected outright. However, we will attempt to notify you via phone, email, or FAX. Once we receive your offer, we will notify you of receipt via phone, email, or FAX. C Co-brokers, Indymac Bank is committed to swift and accurate responses on all valid purchase offers. If you have not received an acknowledgement to your offer within 72 hours (not including weekends and holidays) you may call 1-877-885-1624 and leave a message identifying the property, your phone number & email address, along with the details of your concern and you will receive a response within the next business day. 4. Since many REO listings receive multiple offers, the first offer you write may be your only chance. Please submit your “highest and best” offer. Once we get an acceptance on an offer, whether or not yours was accepted, we will notify you. 5. Most of our communication following receipt of your offer will be via email, so please monitor your email. If you have a YAHOO email account, our emails may be blocked or end up in your SPAM/JUNK folder. Please monitor that folder carefully.
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