CHARLESTON, S.C., March 11 /PRNewswire/ — Due to an overwhelming response, Trademark Properties has teamed up with 4 financial institutions for this month’s upcoming Liquidation Sensation event. Three weeks ago Richard C. Davis, founder of Trademark Properties and creator of “Flip this House” and “The Real Deal”/”The Real Estate Pros” announced his newest venture.
Liquidation Sensation is a series of auctions being held across the nation which offer real estate ranging from currently listed assets, Bank Owned REO assets, builder surplus inventory, vacant land, commercial real estate, and developed lots. Davis says, “When you have all types of real estate in one venue, and no differentiation between which types they are, it takes the stigma off of the distressed assets and allows them all the opportunity to go for top dollar of what the market is willing to pay.” Trademark was overwhelmed the last 2 weeks as they kicked off their first event in South Carolina. They initially set their goals high at $100 million in volume. Richard notes, “At this point we are sifting through close to $200 million of inventory and we have a waiting list for others who didn't sign up in time. This is way more than we were expecting and prepared to handle on 3 weeks notice, so if there were any buyers in the state of SC that were worried there wouldn’t be enough properties to get excited about, they need not worry. This is an obvious stamp of approval of these types of events from the selling side, reinforcing that now, more than ever, is the time to buy.” Due to the steep increase in volume, Trademark Properties has decided to push the date of the event back from March 14th to March 28th. Davis says the set up will be very similar to the RTC “Ballroom” auctions held in the early 90’s, properties from all parts of South Carolina, but with the added benefit of internet bidders online. This is Trademark Properties’ way of getting involved to cleanup the sub-prime mortgage fiasco one state at a time.
Additionally, Wachovia, Bank of America, Wells Fargo, and Synovus Mortgage Corp/NBSC have teamed up as preferred lenders. For buyers who use any of the 4 lenders noted here, the $500 application fee will be waived. Buyers are instructed to sign up on the website, www.liquidationsensation.com, and the auction will be both live and on the web simultaneously for those who cannot attend. According to Davis, “The sub-prime brokers and relaxed credit qualifications are what falsely stimulated the real estate market and left us with an over supply of inventory. We are teaming up with actual banks and credible financial institutions to lend money to people who can qualify the old fashioned way. The cautious buyers who save for their down payments, and realize that real estate is not something you put on your credit card at the mall, are the ones who will benefit by picking up undervalued assets at these events and building their net worth because they didn’t get caught up in the feeding frenzy of the last couple of years.”
Davis says, “We have had our entire valuation team analyzing each property to insure that there are just as many deals for homeowners as there are for investors.”
SOURCE Trademark Properties
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