WHAT TO EXPECT WHEN BUYING A US MARSHAL ASSET

The US Marshals (USMS) typically require an initial 21-day marketing period before responding to any offers. This is subject to change.

1) Preview the property.

2) USMS assets are always sold AS-IS with the right to inspect.

3) The asset manager prefers cash offers, but they do allow for financing contingencies. Please provide either sufficient evidence of funds for cash offers (no more than 30 days old) or a pre-approval letter for offers with financing contingencies. If you are buying in a Business Entity Name, proof of funds must be in the same entity name. If not, please provide an explanation of the relationship. 4) Typically USMS does not do post-inspection repairs

5) If you are interested in making an offer, please use the attached Letter of Intent (LOI). If the asset manager chooses to move forward with your offer, the asset manager will prepare their purchase agreement and email it to you for review.

6) Typically the asset manager responds to offers within 48-72 hours (excluding weekends).

7) If you agree with the purchase agreement you will be asked to wire your earnest money to the law firm that the USMS chooses for the transaction. USMS will not execute the purchase agreement until the earnest is in escrow.

8) Property purchases with sales prices below $50,000 will be conveyed by a Quit Claim Deed and no title insurance. Property sales higher than $50,000 will be conveyed by a Special Warranty Deed and insurable title unless otherwise noted.

9) Buyers Agents are offered a 1% co-op, paid to your brokerage. Please note, this commission payment will be Fed Ex’d to your brokerage 10-14 days after closing. The commission will come from Colliers International. Please have your brokerage provide us with a completed W-9 Form as this is required for payment.

10) USMS & DOJ reserves the right to change the above process, reject all offers, call for best and final offers, or chance the sale.