This video is meant to describe the Secondary Market purchase process in some detail.
When a client expresses interest in purchasing on the Secondary Market through our team, we will assign the client to a concierge who will interview the client. The concierge holds this interview because they need to understand the client’s current position, and whether the client should be investing aggressively or if the client should start more slowly. During this interview, the concierge will find out the level of real estate experience that the client has, how much the client would like to invest, and how they would like to invest it.
Once the concierge has an understanding of what the client would like to accomplish, and the practicality of the client’s situation, then the concierge will dive into our current inventory, which changes everyday due to redemptions, foreclosures, and sales, and the concierge will find the best certificates that meet the criteria set by the client.
They will then put together a short agreement, which includes important information regarding the certificates and send it by email, as shown in the video above. Simply click the link in your email to pull up the agreement and certificate information in your web browser.
The client should then use this certificate information to perform due diligence, which is something that our concierge can help the client do, if the client would like. The concierge can answer questions and point the client to resources until the client is satisfied with their portfolio. The concierge can also make adjustments to the portfolio, if necessary.
Once the client is ready to go, then they simply complete the agreement as shown in the video above. Simply sign each applicable field. If the client chooses to pay by having our team collect by ACH, then fill out those; type in the name as it’s shown on the actual bank account, fill in the account number and routing number as shown on a check for this account, then select whether the account is a checking or savings account. If the client prefers to pay another way, then the client need only to arrange payment with their concierge using one of the other payment methods listed on that page of the agreement.
Once all signatures and fields are complete, click submit at the bottom of the contract, and a copy will be emailed to our team and the client will also be emailed a copy of the completed agreement.
Once payment is received, our administration and servicing teams will begin the transfer of ownership process.
Depending on the county in which the purchase is made, and the speed with which they process transfers, this process can take 30 – 60 days. However, once the agreement is signed and payment is made, then the certificate technically belongs to the client and all interest is earned in the client’s name.