REO Addendum

[Razor]

I am in need of a sample of the REO addendum. The only one that I can pull up in WinTotal will not let me change the listing #.

Any "help" would be greatly appreciated.

Thanks,

Frazer

 

[Eric C]

How many listings are you putting? Why do you need to change the listing #?

 

[Razor]

It is my understaning that the listings should begin with number 1 and not with number 4.

 

[Eric C]

Oh, when I add the REO addendum it starts with the #1. (wintotal).

I use the form without the adjustments. The older form.

 

[Razor]

My instructions from the client state that it has to be the most recent version. When I add it to the report it begins with #4, #5 and #6 and I cant change it. I guess I could just explain it but that would look tacky on my part. It is to late to call Al a mode and ask and I have a deadline in the morning.

 

[Razor]

I just learned what was wrong. I always include listings on an additional listing page. Wintotal knows that I already have listings #1 thru #3 so the REO page will start with #4 on its own. When you remove the listings page and re-enter the REO addendum it will begin with #1.. Dugh. Its been one of really long days...

Frazer

 

[appraiz it]

I am currently working under a certifed appraiser and I have a few questions about REO addendum. Could anyone send me a sample REO addendum please? We have a client asking for the addendum and it wasn't on the original request to provide an REO addendum. I haven't ever been asked to provide an REO addendum. Is the bank or lender requesting the addendum responsible for sending us a detailed list of improvements that will be done? I'm not asking to copy anyone's work, I would just like to see an example if you don't mind. Any help will be so greatly appreciated!!!! Thanks

 

[Tim Hicks (Texas)]

I am currently working under a certifed appraiser and I have a few questions about REO addendum. Could anyone send me a sample REO addendum please? We have a client asking for the addendum and it wasn't on the original request to provide an REO addendum. I haven't ever been asked to provide an REO addendum. Is the bank or lender requesting the addendum responsible for sending us a detailed list of improvements that will be done? I'm not asking to copy anyone's work, I would just like to see an example if you don't mind. Any help will be so greatly appreciated!!!! Thanks

Whoa, if you are not sure, you need to ask the certified appraiser you are working under. REO appraisal assignments almost always require an REO addendum. There are no detailed lists provided to the appraiser. The appraiser makes a detailed list on what repairs are needed and estimated cost to bring the property to average marketable condition. That does not mean the lender will make the repairs, it is for them to decide if it would be better to repair or sell as is. I could go on an on for about four more paragraphs, but you really need to get your certified appraiser to earn their training badge and train you correctly.

 

[incognito]

I just learned what was wrong. I always include listings on an additional listing page. Wintotal knows that I already have listings #1 thru #3 so the REO page will start with #4 on its own. When you remove the listings page and re-enter the REO addendum it will begin with #1.. Dugh. Its been one of really long days...

I do a BUNCH or REO work. Generally speaking, the 3 listings on the REO addendum are satisfactory, and there is no necessity to grid listings elsewhere. The best part is that the REO addendum requires no adjustments!

 

[Gregory Beck]

here is the form

I am in need of a sample of the REO addendum. The only one that I can pull up in WinTotal will not let me change the listing #.

Any "help" would be greatly appreciated.

Thanks,

Frazer

you want the Real Estate Owned (REO ) Addendum
it's in wintotal I do these all day long.