Traditionally, note buyers perform a title check and request a BPO report after the bid has been declared victorious at the auction. Why? The fact is that it requires time and money costs, and why bear them if you do not become the future owner of this debt.
Most often, this leads to the fact that the buyer loses in the auction, because he cannot objectively assess the quality of the notes. And it has to discount an offer. Or maybe the downside is that the price is too high, and when checking it is revealed that, for example, this property has a large tax lien. Then the deal just falls apart.
American Title presents an innovative solution for checking real estate objects - Data Tree. The report, which is uploaded at the click of a finger, allows debt buyer to speed up the verification process and reduce the risks when buying. What parameters are matter to note buyers that they can find in the report? Property Details, Open Liens, Title Holders, Prior Loan History, Ownership History, Tax Obligations, Listing History, BPO and Comparability. Market trends in this particular area.
The use of such reports allows note buyers to reduce the decision-making time to several minutes when analyzing a real estate note.
Data Tree reports are now available for Debexpert members. Now note buyers can receive one-stop-shop service: review notes listings, review Data Tree reports, bid and close deal!
This new offer received high ratings from Debexpert customers and has helped buyers make informed decisions at three auctions already.
Debexert is a fintech solution that helps lenders sell their debt portfolios to a nation-wide base of debt buyers. Transactions are performed via an end-to-end encrypted platform that is available via desktop or mobile app.
Link to the website - https://www.debexpert.com/