With the increasing number of distressed assets being acquired or held by lenders for disposition to investors, the distinctions between purchasing distressed debt and REO properties in order to acquire title to real estate assets raise significant due diligence and ownership risks that need to be identified, addressed and mitigated in order to make investments that have a reasonable probability of yielding a healthy return on investment.
This OnDemand Webinar will identify the obvious problems, and expose the more nuanced dangers, that investors face in acquiring distressed assets and will provide both legal and practical solutions to eliminate, where possible, and mitigate, in all other instances, the various risks that are posed in this marketplace. This program is essential for any real estate investor who desires to pursue the acquisition of troubled real estate assets in a market where the sellers predominantly dictate the sale terms and the timing for such transactions.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview of Note and REO Sales
- What Is Being Sold, and By Whom?
Due Diligence Issues in REO Sales vs. Note Sales
- Due Diligence Challenges
- Bankruptcy Risks
- Third-Party Liabilities
Practical Obstacles to Note and/or REO Sales
Opportunities to Obtain Hidden Value
- Guaranties, Letters of Credit or Other Credit Enhancements?
- CFD Reimbursement Claims, Tax Refunds or a Tax Increment Financing Scheme?
- Claims for Fraudulent Distributions to a Creditworthy Borrower Affiliate?
- Reserve Accounts?
Alternative Transaction Options
- Alternatives to Foreclosure
- Consensual Foreclosure
- Consensual Bankruptcy
Common REO Issues - Regulatory Considerations for Banks
- Holding Period
- Appraisals
- Property Inspection
- Environmental Audit
- Use, Repair and Maintenance Issues
Survey and Title Considerations J
Creditor's Rights Issues
Broken Priority
Land Use Considerations
Successor Liability
Project Development Challenges
Receiver Sales
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 11, 2013.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Ren R. Hayhurst
GoDocs.com
- General Counsel of GoDocs.com
- Current responsibilities include managing and training the document preparation team, representing the company with regard to third-party contracts, acting as the product owner for software products offered by the company, and overseeing all legal issues presented by the company and its customers when using the software products
- Practice focuses on all aspects of lender representation, including real estate and commercial loan documentation, real estate loan workouts and foreclosure, receivership, and loan/guaranty enforcement litigation
- Negotiated and documented standard and revolving line of credit loans for the acquisition, development, and construction of regional shopping centers, retail power centers, office properties, single family and multi-family residential housing projects, industrial buildings and warehouses, cogeneration facility financing, and mixed collateral for commercial bankers
- Has documented and closed loans involving real property security in every state in the country; he also has negotiated and documented real estate syndication/participation loans and REMIC conduit loan packages
- Was a trial attorney for the first nine years of his professional life and has represented lenders and borrowers in litigation matters concerning the enforcement of secured and unsecured loan transactions
- Teaching for the past 4 years graduate classes on alternative dispute resolution, FCPA, and corporate responsibility at the UC Irvine campus as part of joint certificate program between the law school and the graduate business program
- J.D. degree, Order of the Coif, University of Utah; B.S. degree in psychology, magna cum laude, and B.S. degree in political science, magna cum laude, University of Utah
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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