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Posted by RealtyNoteBid.com Team on December 12, 2009 under About | 
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We would like to introduce you to RealtyNoteBid.com. Your Distressed Debt Investments resource. RealtyNoteBid.com is an on-line real estate note auction exchange where real estate investors can purchase non-performing, first lien position residential and commercial notes/loans from a number of lenders throughout the United States.
Investors will no longer need to track down the bank officer responsible for handling these non-performing loans. Our distressed debt investments auction website handles that for you.
RealtyNoteBid.com is simple and easy to use. Pertinent information regarding the loan and the property which secures the loan is uploaded onto the website. This will include a copy of the Note, the recorded Deed of Trust or Mortgage which secures the note, title and insurance information, pictures of the property and other specific information regarding the note.
Prior to making any bids, an Investor is required to register. The real estate auctions take place for 30 days or as specified under each loan. Each note will have a lender’s minimum reserve price. The website will indicate when a loan’s minimum reserve price has been met. Investors have the ability to set their maximum bid amount through our Bid Assist, our automated bid process, so the system can bid for you while you are away from your computer.
RealtyNoteBid.com’s real estate auctions format allows you to search for distressed debt investments on a national basis, by state, by city, by zip code, by price, and by other characteristics.
Once an auction is completed and the minimum reserve price is met, the lender will have the right to accept the winning bid. If a minimum reserve price is not met, then we will go through a post auction bidding process whereby the highest bidder can decide whether or not to increase his bid up to the minimum reserve price.
When a winning bidder has been identified, they will be notified via email and then will be required to immediately complete and return our Buyer Questionnaire. Once the Questionnaire is received, the Note Purchase Agreement will be prepared and will be forwarded directly to the winning bidder via email with a return Fed-Ex label attached. Once the Note Purchase Agreement is signed, it will be returned along with the required deposit via Fed-Ex to Escrow for further handling. Escrow will coordinate the closing with the winning bidder.
It is that simple! For further information, please refer to our frequently asked questions tab on our blog or on our website at www.realtynotebid.com.
RealtyNoteBid.com Team!
RealtyNoteBid.com – The Distressed Debt Investments Real Estate Auction Exchange.
www.realtynotebid.com
