Did we ask to buy from you?
Buying from Institutions
Cherokee is a private opportunity investor. We acquire acutely non-performing assets including real estate (REO or OREO), defaulted and charged-off real estate security instruments (mortgages and Trust Deeds a/k/a NPL) and tax liens. Our specialty is the restoration of blighted properties encumbered by legal, physical and environmental problems.
Note:This page is directed toward organizations such as banks, portfolio servicers, law firms, and other institutions that own, service or are otherwise involved with portfolios of distressed assets, including REO, defaulted mortgage loans and tax liens, or other under-performing or non-performing assets. If you are an individual, or if you only have one or two pieces of distressed real estate potentially for sale, please click here
We're Buying
If we approached you about selling non-performing assets to us, this page is a summary of the reasons we hope you will speak with us about the potential benefits of such a relationship, whether a one-time sale, or an ongoing flow agreement. More detailed benefits on our Why sell to Cherokee page.
Cherokee helps financial institutions resolve their most complex non-performing asset problems. We're not typical ;vultures seeking to buy recently defaulted mortgages at huge discounts. Our expertise is helping you salvage value from loans charged off years ago, or from assets associated with fraud, lender liability, pollution, or other very complex legal, physical or environment issues.
We often acquire mortgages that are being threatened by our own tax foreclosures, even if these security instruments have no recovery value to you. They provide additional rights and create an ;insurable interest.
Cherokee is sensitive to your concerns regarding liability, and we can provide indemnities regarding past or future liability regarding all assets.
At this time we are primarily acquiring REO in New Jersey, San Diego, and parts of New York, Pennsylvania and Florida. Cherokee Equities, our affiliate, buys non-performing mortgages and tax liens in 16 states.
If you'd like to learn more about Cherokee, including who we are, what we do, and why we contacted you, please see our About Us summary page, call Jay Wolfkind, our Acquisitions Director, toll-free at (800) 543-0201, or send him an email using the Contact Cherokee web page.
Reasons to Sell
Eliminate Liability: We can indemnify you from any liability related to the loan assets. Even polluted or condemned properties.
Get fair NPV: Cherokee will pay a fair price for your assets.
Absolutely as is: We buy properties absolutely non-resource. No conditions, no ongoing liability. We'll buy subject to outstanding taxes, other mortgages or security instruments, etc.
End Liability and Hassles, Now: Are you being cited by local government for lack of maintenance, or being hounded by neighbors or regulators? Are occupants (legal or otherwise) a liability? A sale to Cherokee will put a quick stop to these distractions. We will notify everyone immediately that your organization is no longer associated with the property, we are. Whatever must be done, we'll do it.
Sell assets out of Bankruptcy: We will take title to properties even when the owners are involved in an active bankruptcy or other litigation.
Strong Cash Buyer Cherokee is a responsible, reliable, cash buyer.
Good PR.: When you sell properties to Cherokee, we usually renovate them into affordable housing, or commercial facilities that create local jobs and serve their communities. So by selling your REO and other distressed assets to Cherokee, you are facilitating community development. We will endeavor to maximize the public recognition of your assistance, including press conferences with local officials and community and social service organizations.
Charitable Contributions: If your institution has assets that have been written off, and accepting funds would create more accounting Questions than the assets are worth, we can arrange to make a donation to one or more charitable organizations you designate.
Swaps & Regulatory Solutions: We understand the intricacies and regulatory issues associated with swapping good loans for NPL, not only to achieve financial objectives, but also to satisfy regulatory issues such as loan ratios in any particular lending area.
No Daisy Chains: There are hundreds of REO networks proliferating on the web. Most of these are pipe dreams, at best. Cherokee is THE BUYER. We don't represent buyers, we don't find deals and then see if we can flip them, we're not participating in a cockamamie scheme that will plaster your business all over the Internet. We are the principal. We have the funds. We are discrete. We are serious, proven buyers.