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Countdown To Buy enters into pilot program to offer foreclosed homes

Mar 03, 2010

Countdown to Buy, a next generation online real estate marketplace that offers a fair and effective way to buy and sell properties, announced that it has entered into a new pilot program with a leading banking institution to offer a sampling of foreclosed properties in Texas. “This pilot affirms that the appeal of our model and reach of our platform fills a broad set of needs within the spectrum of disposition strategies,” commented Tom Furey, managing partner of Countdown to Buy. “Our innovative solutions result in significant benefits for the institutions we partner with such as reduced costs, less buyer fall-out, enhanced work flows and shorter sales cycles.” The initial properties for this pilot will be located in Dallas, Texas, and can be researched on the company’s Web site www.countdowntobuy.com. Open houses will be held on Saturday, March 6, 2010 and Sunday, March 14, 2010. Confidential offers on these properties can be submitted through the Web site starting Friday March 5, 2010 and will be accepted for 25 days—or less should an offer match or exceed the price that is scheduled to reduce one percent per day. "Countdown To Buy’s process is gaining traction as a timely and cost effective solution for institutions to better manage REO inventory,” said Dan Connell, President of Countdown to Buy. “The combination of Countdown To Buy’s innovative platform, combined with the skills and knowledge of the Agents that we are collaborating with is proving to be a very effective practice.” Founded in 2008, Countdown To Buy uses a patent pending technology that automatically matches buyers and sellers in a real estate transaction through a time-limited process that reduces the property’s list price everyday. Confidentially submitted offers are systematically compared to the daily price and when an offer matches or exceeds that price, the offer is automatically accepted and the contract process is initiated. Through the company’s Web site, www.countdowntobuy.com, property listings can be researched, showings can be arranged, and offers can be submitted. In December 2009, the Company launched its online platform with a leading nationwide servicer, offering properties in Connecticut, New Jersey and New York. Countdown To Buy is currently in negotiations with other leading banks and servicers for additional programs throughout the United States. For more information, visit www.countdowntobuy.com.
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