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Overwhelming Response to Inaugural Trademark Properties Liquidation Sensation Event
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,
http://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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