N-Play is a client web application that resides on and functions in sync with the existing bank or lender operated REO property search website. A hyperlink in the form of a textual hyperlink or graphical button are added to each listing detail page that launches the N-Play REO interactive application when clicked by a buyer. (We work with your website provider to provide seamless integration of the links)  These links and/or buttons provide notice to buyers that an offer can be submitted online.  When clicked, the N-Play interactive Make Your Offer console is displayed in a new fixed window inside the listing website browser.

 

Buyers submit offers online

The buyer may view competitive offers, if any, and submit a new offer directly from the N-Play REO console. Offers are automatically ranked in real time against other competing offers based on asset manager criteria utilizing a ranking algorithm.

 

 

N-Play REO manages the offer process

All parties, including your listing agents, are continually updated on property activity via email and the N-Play REO messaging center.  Any pending offer, regardless of rank order, can be accepted at anytime or none at all.  Offers can be accepted “as offered” as submitted by the buyer or with seller stipulation (“counter offer”).

 

 

Purchase Agreements executed offline

Offers agreed to in principle by both parties are memorialized in a nonbinding Memorandum of Understanding generated by N-Play REO and forwarded to the parties and respective agents.

Final negotiations and binding purchase agreement are conducted offline and outside the purview of N-Play REO in the traditional manner between the seller, the seller’s agent, the buyer and the buyer’s agent.

 

N-Play REO does not displace in any way the client-agent relationship on either side of the transaction.  With an agreement in principle in hand regarding the price, terms and conditions of an offer agreed to online, the final negotiations will be more effective, efficient and expeditious offline. Your agent will deliver to your organization a binding purchase agreement (using state approved forms) that has the highest probability of success.

More offers in less time

In summary, N-Play REO provides an interactive negotiating platform environment that engages the buyer and creates a call to action. For the REO organization this translates into more sales at a higher net price in less time than any other means.