Easton & Pocono, Pennsylvania (3-Day Event) REO Bus Tour & Investor Training Program (CE Accredited) – July 20-22, 2018

Description

REO Tours & Real Estate Investor Training Program

Join REO Tours on our 3 day event. Distressed and high return properties will be featured on this investment property tour in Easton & Pocono, Pennsylvania.  The Pennsylvania market place is vibrant and thriving and many good real estate deals can be realized. Properties that will be seen have the possibility of 10% and greater return on investment.  Expect a full day of seeing and reviewing properties as presented by the power team of real estate professionals, each with over 20 years in the industry.

CE Package includes:

Law of Agency (3.75hrs)

Fair Housing (3.75hrs)

REO Bus Tour (8hrs)

Real Estate Investor Training (8hrs)

Foreclosure:

• Judicial
• Process Period: 170 days
• Sale Publication: N/A
• Redemption Period: None
• Sale/NTS: Sheriff
• Small Claims Court Maximum Dollar Amount: $10,000
• Security Instrument: Mortgage

Pre-foreclosure Period:

Before the foreclosure process can begin, the borrower must be at least 60 days late on payments. The lender usually sends the borrower two letters before starting the foreclosure. These letters notify the borrower of the impending foreclosure and give the borrower options to prevent the foreclosure. The owner has a period of 2-4 months to find a way to prevent the foreclosure before the lender takes further action. If the borrower does not find a way to prevent the foreclosure, the lender files suit against the borrower for the amount due. The borrower is notified of the foreclosure action in person or by publication and mailing if necessary. After the borrower is notified of the foreclosure action, they have about one month to respond before the court directs the property to be sold to recover the amount due. The borrower can still prevent the sale at any time up to one hour before the sale by paying the full amount owed.

Notice of Sale / Auction

At least 30 days prior to the sale, the county sheriff gives notice of the sale by putting a handbill on the property as well as delivering a copy of the notice to the borrower. The sale is advertised at least once a week for three consecutive weeks in both a local general-interest newspaper and a local legal newspaper. The sale is a public auction overseen by the county sheriff and takes place 1-2 months following the court’s order. The property is sold to the highest bidder and the sheriff completes the necessary documents to transfer ownership. The sale may be postponed once up to 100 days by announcement at the sale. The court must approve any further postponements. There is no right of redemption for borrowers following the sale.

Brokerage:

• Allows choice of brokerage services
• Allows brokers to offer rebates to consumers

Pennsylvania law allows consumers to choose the brokerage services they want by allowing them to waive, in writing, certain minimum services otherwise required by law. This written waiver preserves consumers’ ability to choose the brokerage services they want: Pennsylvania Statutes, Title 63, Section 455.606a.

Real Estate Laws

Tenant and Landlord:

• Security Deposit Landlords can Charge: Two months’ rent for first year of renting; one month’s
  rent during second year and subsequent years of renting
• Notice to tenant before non-emergency entry: No Statute
• Statutes: 68 Pa. Cons. Stat. Ann. §§ 250.101; 399.18

Pennsylvania Trade Practice Act ( Act 114 of 2000, Title 68 enacted in 2000). The law in Pennsylvania provides a uniform definition for the term “home inspection” and for a national home inspection association. It establishes that a home inspector shall conduct their inspection in accordance with the standards of practice set forth by a professional home inspection trade association such as ASHI or the National Association of Home Inspectors. It further outlines consumer remedies as they rel ate to a home inspection, and establishes penalties for misrepresentations of fact in an inspection report. Under the law, home inspectors are required to maintain errors and omissions and general liability insurance with coverage of not less than $100,000 per occurrence and $500,000 in the aggregate. The law is scheduled to take effect in December 2001.